Padam Cotton Yarns Ltd: This week saw a rise in the market of stocks and with the exception of a minor drop that occurred on the 5th of June, the stock market was in the green throughout all times of the week.
Nifty ended the week at the level of 24,678 and the Sensex ended at 81,709.
Stock-specific activity continued to be seen in the market, with news flows. The price of the share of cotton-producing company Padam Cotton Yarns Ltd is increasing steadily.
Share in Padam Cotton Yarns Limited closed at Rs 270 on Friday, an increase of 2 percent. Only 3099 shares were traded on the stock, and 100 percent of the trade volume went to delivery.
While this stock trades in a small volume, this stock has hit an upper circuit for 74 consecutive days from 23 August 2024.
This stock has posted the stock a rate of return of 650 percent in the past 6 months.
Padam Cotton Yarns Multibagger
Padam Cotton Yarns is a multibagger company that has earned over 200 percent return over the past 3 months.
The company is now able to issue dividend shares for its investors. The reason for this bonus offer is usually offered as a reward for shareholders and also to boost the trading value of their shares on the market.
This company makes cotton, trades agricultural machinery, and also provides textile-related advice.
With a modest market cap of Rs 127.75 crore, the stock of this microcap has also delivered multibagger returns over the long term.
Bonus Shares
In the meeting that took place on the 27th of November, 2024 The Board of Directors approved the release of bonus shares worth 38,73,000 at a 1:1 ratio, each of which has the face value of Rs 10.
That means shareholders receive 1 additional equity share in exchange for each equity share they currently own. Distribution of bonus shares is subject to shareholder approval.
The company also clarified that the amount of bonus shares had been incorrectly reported as 38,37,000 in its initial announcement, whereas the correct number is 38,73,000.
Padma Cotton Yarn Bonus Record Date
The company hasn’t yet released the date of record for its forthcoming bonus issue. It is the day set by the company in order to decide which shareholders will be entitled to bonus shares.
Equity shareholders of the company at the date of record are entitled to be awarded bonuses in a certain proportion.
Quick Fact
| Company name | Padam Cotton Yarns |
|---|---|
| Stock rise duration | 74 days (upper circuit) |
| Recent share increase | 2% |
| Trade volume | 3099 shares |
| Delivery volume | 100% |
| 6-month return | 650% |
| 3-month return | Over 200% |
| Market cap | ₹127.75 crore |
| Core business | Cotton production, agricultural machinery trading, textile-related advice |
| Bonus shares ratio | 1:1 (1 extra share for every 1 owned) |
| Face value of shares | ₹10 per share |
| Correct bonus shares | 38,73,000 shares |
| Announcement correction | Previously reported as 38,37,000 shares |
| Record date status | Not announced |
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