After Gaining 73% In Just 30 Days, Multibagger Textile Stock Approves Stock Split

Leading textile company Mafatlal Industries' board has approved on September 17, 2022 5-for-1 stock split and it led a strong surge in the shares of the company. Today the stock gained 5.00% intraday and locked in an upper price circuit at Rs 395 apiece. The company has a market capitalisation of Rs 557 crore at the time of writing the report. Check key takeaways below:

Mafatlal Industries Ltd Approves Stock Split

The board of directors of the company in its BSE filing said, "This is in reference to our intimation dated 23rd August 2022, we hereby inform you that pursuant to Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015, the Board of Directors of the Company, at its Meeting held today, i.e., 17th September 2022, has inter alia, considered and unanimously approved the following 1. Sub-division (split) of existing Equity Share of the Company from one (1) equity share having a face value of Rs. 10/- each (fully paid-up) into five (5) Equity Shares of face value of Rs. 2/- each (fully paid-up). The Record Date for such sub-division (split) of equity shares will be intimated in due course. 2. Alteration of Capital Clause (Clause V) of the Memorandum of Association of the Company (''MoA''). 3. Obtaining shareholders'' approval through postal ballot procedure for sub-division (split) and Alteration of the MoA as mentioned above and to authorize the Company Secretary to issue Notice of Postal Ballot."

Mafatlal Industries Ltd Stock Outlook

The current market price of the stock is Rs 395 apiece with an intraday gain of 5%.

Mafatlal Industries Ltd 52 Week High/Low

The stock's 52-week high is Rs 406 apiece and 52-week low is Rs 136 apiece, respectively.

Mafatlal Industries Ltd Market Capitalisation

The company has a market capitalisation of Rs 557 crore at the time of writing the story.

Mafatlal Industries Ltd 5 Years Return

It has given multibagger return to investors with 45% return in last 5 years, 401% return in last 3 years, and 178% return in last 1 year.

Mafatlal Industries Ltd Quarterly Results

The company for the quarter ending June 30, 2022 declared a consolidated total income of Rs 398.43 crore, up .54 % from last quarter Total Income of Rs 396.28 crore. It declared a net profit after tax of Rs 15.76 Crore in latest quarter.

About Mafatlal Industries Ltd

The Company was incorporated in 1913 at Ahmedabad. It manufactures textiles and textile chemicals. The mills are equipped to do bleaching, dyeing, calico printing, mercerising, calendering, sanforising, anti-creasing and texturising. In technical collaboration with Siemens AG of West Germany, the company started a project for the manufacture of professional grade connector, an electronic component presently imported and used in electronics and telecommunication industries.