Multibagger stock hit fresh 52-week-high, record date for bonus shares revised
With a market cap of ₹13.71 Cr, Globe Commercials Ltd. is a small-cap company that operates in the commercial services industry. On January 9th, 1985, Globe Commercials Limited was established as a Public Limited Company in accordance with the provisions of the Companies Act, 1956. The company deals in the fields of sanitary ware, cotton, jute, oils, rubbers, grains, seeds, vegetable goods, and other commodities pertaining to steel and cast iron variations. In addition to lending money to industrial firms, the company also engages in real estate, trade, and other kinds of commercial and service activities. For the purpose of 1:1 bonus shares, the Board of Directors has revised record date from 22.12.2022 to 07.01.2023.
The company has said in a stock exchange filing that “we wish to inform you that the record date fixed for the bonus issue has been revised from 22.12.2022 to 07.01.2023. We request you to please take it on record for the Bonus Issue.”
The Company’s Board of Directors met on Wednesday, December 14, 2022, and discussed and approved issuing bonus shares in a 1:1 ratio for approval by the Members at the subsequent 37th Annual General Meeting of the company. The company has also said the Board has “Approved increase of authorized share capital from Rs.5,95,000 to Rs.10,00,00,000 (Ten Crores only) and which is required consequent to issue of Bonus shares and accordingly Resolution has been included in the Addendum to the Notice of 37th Annual General Meeting for the approval of Members.”
The shares of Globe Commercials Ltd closed today at a fresh 52-week-high level of ₹45.70 apiece on the BSE, up by 4.94% from the previous close of ₹43.55. The stock recorded a total volume of 7,685 shares compared to the 20-Day average volume of 10,727 shares. In the last 5 years, the stock has gained 81.35% and in the last 1 year, the stock has gained 69.57%. The stock has seen a year-to-date gain of 96.98% and a multibagger return of 236.03% over the past six months. The stock’s multibagger return in 1 month was 114.55%, and over the previous five trading sessions, it soared by 21.22%. The stock had touched a 52-week-low of ₹9.08 on (06/10/2022), indicating that at the current market price the stock is trading 403.30% above the 1 year low.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.