The board of directors of small cap multibagger textile sector stock, Indo Cotspin Ltd have postponed the stock split on November 30 and it will now be considered in next board meeting, according to the company's BSE filing. The stock has given 115% return in just 6-months. The company has a market capitalisation of Rs 29 crore. Check key details below:
1. Board Of Indo Cotspin To Soon Approve Stock Split
The board of directors of the company said in the BSE filing as on November 30, 2022, "1. The Board of Directors of the Company have postponed the approval of Sub-division (split) of Equity Share of the Company having a face value of Rs. 10/- each (fully paid- up) into one (1) Equity Share of face value of Re. 1/- each (fully paid-up) & Alteration of authorized share capital clause of the Company in the Memorandum of Association and the same will be considered in next Board Meeting."
2. Indo Cotspin Stock Outlook
The current market price of the textile stock is Rs 70 apiece with an intraday decline of 5%. The stock's 52-week high is Rs 102 apiece and 52-week low is Rs 14 apiece, respectively.
3. Indo Cotspin Return
The stock has given multibagger returns to shareholders. In the last 5-years, the stock has given 457% return, 29% return in last 1-year, and 115% in last 6-months. The stock has given 305% return in last 3-months and declined nearly 6% in last 1-month. In last 1-week, the shares have fallen nearly 15%.
4. Indo Cotspin About
Indo Cotspin is an exporter, manufacturer, importer, trader and supplier. The primary competitive advantages of the company include qualitative products, minimal price, quick delivery. It was established in the year 1995. The product range of the company include non-woven fabrics, non-woven carpets, non-woven felts, non-woven designer carpets, non-woven geo textiles, etc.
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