Multibagger Small Cap Stock Hits New 52-Week High On Bonus Issue Announcement

Shares of Commercial Syn Bags Hits 52-week high today after board of directors of the company announced plans to issue bonus shares. Commercial Syn Bags also known as Comsyn is a manufacturer of FIBC, Tarpaulin, Woven Sacks, and BOPP Bags, located in Indore, a city in Central India.

Comsyn is a member of 50 years old Choudhary Group, which has a wide range of business interests. The small cap company has a market capitalisation of Rs 383 crore. Check key takeaways below:

1. Commercial Syn Bags Ltd To Issue Bonus Share

The board of directors of the company in the regulatory filing stated on Tuesday, "With reference to Regulation 29(1)(a) of SEBI (LODR) Regulations, 2015 and as per SEBI (PIT) Regulations, 2015 as amended from time to time, we are pleased to inform that the 8/2022-23 Meeting of the Board of Directors of the Company is scheduled to be held on Saturday, 22nd October, 2022 at 05:00 P.M. at the Registered Office of the Company to consider and approve the following businesses along with other routine businesses: 1. To consider the proposal for issuance of Bonus Shares. 2. To consider the matter related to increase in Authorised Share Capital of the Company 3. To consider the matter related to alteration of the Clause V of Memorandum of Association of the Company. 4. To consider and approve the Notice of the 1/2022-23 Extra-ordinary General Meeting and to decide the date, time and venue of the EGM. 5. To consider and approve other matter incidental thereto."

2. Commercial Syn Bags Ltd Stock Outlook

The current market price of the stock is Rs 301 apiece with an intraday gain of 1.87%. The stock's 52-week high is Rs 329 apiece and 52-week low is Rs 137 apiece. The stock hit its new 52-week high today. The stock opened at Rs 314 apiece, touched intraday high at Rs 329 (its new 52-week high) and intraday low at Rs 291 apiece.

3. Commercial Syn Bags Ltd 5 Years Return

The stock has given a return of 558% in last 5-years, 600% return in last 3 years, and 115% return in last 1 year.

4. Commercial Syn Bags Ltd About

The company came into existence in 1984 and operates in packaging sector. Having more than 3 decades of experience, it seeks to provide customers with the best possible solution for their packing needs within a specific time frame. It has a strong customer base spread across all the six continents.