This stock rallies over 300% in 3 years, Board to consider bonus shares soon

The company has said today in a stock exchange filing that “This is to inform that the Meeting of Board of Directors of the Company scheduled to be held on 14th December, 2022 to transact the following business: 1. To consider and recommend issue of bonus shares for approval of shareholders at the ensuing Annual General Meeting. 2. To approve the draft Addendum to the Notice of Annual General Meeting and authorize dispatch of Addendum to the shareholders. 3. Ton consider and approve the cut off date i.e. 22.12.2022 as record date for the purpose of ascertaining the entitlement of shareholders for the purpose of issue of Bonus shares. 4. To consider the appointment of Mrs. Gayatri Kataria as Company Secretary and Compliance Officer of the company. 5. Any other matter with the permission of the chair.”

The shares of Globe Commercials Ltd closed today at ₹31.10 apiece, down by 4.89% from the previous close of ₹32.70. The stock recorded a total volume of 11,438 shares compared to the 20-Day average volume of 9,611 shares. The stock price climbed from ₹7.40 on December 26, 2019, to the current market price during the past three years, resulting in a multibagger return of 320.27%. The stock has appreciated 16.92% over the past year, and it has gained 34.05% YTD in 2022. 

The stock had touched a 52-week-high of ₹36.10 on (06/12/2022) and a 52-week-low of ₹9.08 on (06/10/2022), indicating that at the current market price the stock is trading 242.51% above the 1-year low. The company reported a promoter shareholding of 8.33% and a public stake of 91.66% in the quarter ended September 2022 or Q2FY23. At today’s closing price the stock was seen trading below 5 days EMA but above the 10 days, 20 days, 50 days, 100 days and 200 days Exponential Moving Average (EMA).