Multibagger Stock: Axita Cotton, a leading company that produces and sells good quality cotton across the globe has proved to be a multibagger for the investors. The company’s shares have gained about 1600 per cent in nearly three years. Now Axita Cotton has also announced the record date for the stock split.
The board of the small cap company had announced a stock split in the ratio of 1:10. This means that investors will get 10 shares for one equity share and the face value of the shares will be from Rs 10 to Re 1. The company has fixed a record date of October 21, 2022 for the stock split. Its current price (Axita Cotton Share Price) is Rs 356.20 on BSE. Its market cap is Rs 700.15 crore.
Axita Cotton has proved to be a multibagger
The shares of Axita Cotton have proved to be a multibagger for the investors. On January 11, 2019, it was at a price of Rs 21.10, which has now increased to Rs 356.20, that is, the capital of investors has increased almost 17 times in just three and a half years.
Talking about the short time frame, it has strengthened by 323 percent in this year 2022 i.e. the investor’s capital has increased more than four times. At the same time, it has grown by 754 percent in the last one year, that is, the capital of the investors has increased more than 8 times.
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Details about the company
Axita Cotton manufactures and sells good quality cotton all over the world. According to the information given on the company’s website, it mainly produces Shankar-6 and MCU-5/MECH varieties of cotton.
Talking about the financial health of the company, according to the data available on BSE, in April-June 2022, the company had earned a net profit of Rs 4.45 crore and received a revenue of Rs 204.63 crore.
Disclaimer: The information provided here is based on share performance. It is important to mention that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. It is never advised to invest money here on behalf of Moneycontrol.