After Giving 782% Return In 1 Year, This Textile Stock To Carry Out Stock Split In 1 Week

Axita Cotton Ltd is a small cap company with a market capitaliastion of Rs 703 crore. The Textile sector company is all set to conduct stock split in 1:10 ratio and the board of directors of the company has fixed record date for the same. Check key takeaways below:

1. Axita Cotton Ltd Fixes Record Date For Stock Split

The board of directors of the Textile sector company in the regulatory filing stated, "The Members of the Company in their 9t (Ninth) Annual General Meeting approved sub-division of every 1 (One) Equity Share of the nominal/face value of = 10/- each into 10 (Ten) Equity Share of the nominal/face value of = 1/- each. Furthermore, in order to determine the names of equity shareholders entitled to Sub-division, the Board of Directors at their meeting held on August 12, 2022, delegated the power of fixing the Record Date to Mr. Nitinbhai Govindbhai Patel, Chairman Cum Managing Director of the Company. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements), 2015 the Record date for the purpose of Sub-division of shares, would be Friday, October 21, 2022 as decided by Mr. Nitinbhai Govindbhai Patel, Chairman Cum Managing Director."

The company has fixed record date as October 21, 2022 to carry out the stock split.

2. Axita Cotton Ltd Stock Outlook

The current market price of Axita Cotton is Rs 357 apiece with 52-week high at Rs 397 apiece and 52-week low at Rs 40 apiece, respectively. The stock is currently trading at a 10% discount from its 52-week high level.

3. Axita Cotton Ltd Market Capitalisation

The company has a market capitalisation of Rs 703 crore.

4. Axita Cotton Ltd Return

The stock has given a return of 96% in last 5 years, 782% return in last 1 year, 53% in last 3 months, and 17% in just 1 week.

5. Axita Cotton Ltd About

It was incorporated on July 16, 2013 and operates in Textile sector. It was formed to start business of production and trading of Seed cotton ('Kapas') Cotton Seed Cotton Seed Oil Cotton cake etc.