Multibagger In 1-Month, Now 1:1 Bonus Issue: Small Cap Stock Hits Upper Circuit

Globe Commercial Ltd is a small cap company that operates in trading sector. The stock became multibagger in just 1-month only and gave over 259% return in last 3-months. It has a market capitalisation of Rs 12.45 crore. The board of directors of the company has now recommended and approved bonus issue in the ratio of 1:1. The stock also hit upper circuit intraday. Check key takeaways below:

1. Board Of Globe Commercial Approves 1:1 Bonus Issue

The board of directors of the company in the BSE filing on December 14, 2022 said, "The Meeting of Board of Directors of the Company held on Wednesday, the 14th of December, 2022, and the Board inter-alia considered and approved the following; 1. Considered and approved to recommend Issue of Bonus shares in the ratio of 1:1 for the approval of the Members in the ensuing 37th Annual General Meeting of the Company, 2. Considered and approved to fix the cut-off date i.e. 22.12.2022 as record date for ascertaining the entitlement of shareholders for the purpose of issue of Bonus shares."

The record date for bonus issue  is December 22, 2022. 

2. Globe Commercial Stock Outlook

The last trading price of the stock is Rs 41 apiece with an intraday gain of 4.93%. It is worth noting that the stock also hit upper circuit intraday when it touched the day's high of Rs 41.50 apiece. The stock's 52-week high is Rs 41.50 apiece and 52-week low is Rs 9.08 apiece, respectively.

3. Globe Commercial Return

The stock has given whopping returns to investors in the last couple of months. In last 1-month only, the return is 135%, in last 3-months, the stock has jumped 259%, and the stock has given 57% return in last 1-year.

4. About Globe Commercials Limited

It is engaged in the field of offering commodity trading services. Its area of focus is related to buying and selling of sanitary wares, cottons, oils, rubbers, grains, seeds, vegetable products, and other commodities. It also provides financing, management consultancy, and real estate services.

Disclaimer

The stock gives details pertaining to bonus issue and record date. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.