Multibagger Textile Stock To Announce Stock Split, Bonus Issue; 3 Months Return 694%

Small cap textile stock, Alstone Textile (India) Ltd is scheduled to announce stock split and bonus issue in the coming few days. Alstone Textiles India is engaged in business of textiles that may include natural silk, cotton, readymade garments, mixed fabrics, and hosiery. The company has a market capitalisation of Rs 159 crore.

Today the stock has also hit its new 52-week high as well. Check key takeaways below:

1. Alstone Textile To Declare Stock Split, Bonus Issue Soon

The board of director of the company in its BSE filing said, "We wish to inform you that the meeting of Board of Directors of the company is scheduled to be held on Thursday 10 November, 2022 at 3: P.M at the Registered Office of the Company situated at R815 NEW RAJINDER NAGAR NEW DELHI North East DL 110060, to consider the following proposals: 1. Approval for Sub-Division of Equity Shares from the face value of Rs. 10/- per share to Rs. 1/- per share. 2. Approval for increase in the Authorized Share Capital of the Company and the alteration of Capital clause of Memorandum of Association of the Company. 3. Declaration of Bonus Issue of Equity Shares."

2. Alstone Textile Stock Outlook

The last trading price of Alstone Textile is Rs 125 apiece with an intraday gain of 4.99%. The stock also hit its new 52-week high in trade today at Rs 125 apiece. The stock's 52-week high is Rs 125 and 52-week low is Rs 15 apiece.

3. Alstone Textile Return

The shares have given a return of 176% in 1 month and 694% in 3 months.

4. About Alstone Textile

It is a company with low debt and registered growth in net profit with increasing profit margin (QoQ). It was previously knonwn as Shalini Holdings Limited. Alstone Textiles (India) Limited came in existence as a public limited company in May 25, 1985. It is engaged in the business of trading in fabric and investment.