Small-Cap Textile Stock Declares Record Date For Stock Split: Key Details

Banswara Syntex Ltd is a small-cap company and engaged in the production of yarn, fabric, and readymade garments. The history of the company dates back to 1976 when R.L.Toshniwal laid the foundation for the company and set up a spinning mill in the rural Bamboo forest town of Banswara, Rajasthan. It has now emerged as a leading vertically integrated textile company.

The board of Banswara Syntex has fixed the record date for stock split. It has a market capitalization of Rs 409 crore. Check below for more detail:

1. Banswara Syntex Ltd Declares Record Date For Stock Split

The board of directors of Banswara stated in the regulatory filing, "In terms of Regulation 42 (2) of the SEBI Listing Regulations, Friday, 9th September, 2022 has been fixed as the 'Record Date' for the purpose of determining the eligibility of Shareholders for the purpose of sub-division / split of 1 (one) equity share having face value of 10/ - (Rupees purpose of sub-division / split of 1 (one) equity share having face value of 10/ - (Rupees each as approved by the shareholders at the 46th Annual General Meeting of the Company held on 30th July, 2022."

2. Banswara Syntex Ltd Stock Outlook

The current market price of the stock is Rs 239.10 on BSE with a gain of 2.62% in today's trading. The 52-week high of the stock is Rs 318 apiece and 52-week low is Rs 140 apiece, respectively. The ROE of the stock is 15.61. It is a company with high TTM EPS growth. There is no threat for this stock.

Multibagger Returns: The stock has given multibagger returns with 314% return in 3 years and 61% in 5 years. The stock has given 305% return in 3 years as compared to Nifty Smallcap 100 that gave 72% return. In one month, the stock has gained 10%.

3. Banswara Syntex Ltd Overview

Over the years, Banswara has forayed into markets in over 50 countries including the U.S., U.K., Canada, Spain, Germany, Japan, France, UAE, and Turkey. BANSWARA SYNTEX has won several awards over the years, including the SRTEPC award for 8 years in a row. The company has diversified offerings in textiles and technical fabrics. Due to its varied and highly specialised product range, Banswara is able to service a number of highly reputed fast fashion brands like Uniqlo, Calvin Klein, Marks and Spencer, Next, etc.