Padam Cotton Yarns, a stock listed in the stock market, has seen an impressive rise of over 600% in the last six months.
Currently priced at ₹245, the stock was trading at just ₹35 six months ago. The company has now made a major announcement for its shareholders.
It has decided to issue bonus shares in the ratio of 1:1, meaning shareholders will receive one additional share for every share they own.
Padam Cotton Yarns is involved in manufacturing yarn and also works in the agricultural equipment sector. Additionally, it provides textile consultancy services.
Details About the Bonus Shares
The company’s board approved the 1:1 bonus share issuance in its meeting on November 27.
This means shareholders will receive one free equity share for every share they currently hold. However, the issuance is subject to shareholder approval.
The record date, which determines the shareholders eligible for the bonus shares, has not yet been announced.
Only those holding shares of the company on this date will be entitled to receive the bonus shares.
Stock Performance Highlights
Padam Cotton Yarns has delivered exceptional returns over both the short and long term:
Past 1 Month: 42% return
Last 6 Months: 600% return
Year-to-Date (YTD): Over 400% return
Last 1 Year: 355% return
Last 3 Years: 22,000% return
Last 5 Years: Over 2,000% return
With a market capitalization of ₹115.81 crore, this microcap stock has proven to be a multibagger, providing massive gains to its investors.
