1:10 Stock Split: Multibagger Textile Stock Set To Get Cheaper, Shares Gain 244% In 1-Yr

Small cap company Vardhman Polytex Ltd shares today touched upper circuit soon after the company announced stock split in the ratio of 1:10. Last trading price of Vardhman Polytex shares on BSE is Rs 75.12 apiece with intraday rally of 2.00%. Vardhman Polytex shares declined over 7% in last 2-weeks and offered return of 190% in last 2-years. Check details below:

Vardhman Polytex Announces Stock Split: According to the exchange filing of the company dated March 28, 2024, "we hereby inform you that the board of directors of the company at its 249th meeting held today i.e., Thursday, 28th March, 2024 has considered and approved the following:

1. Sub-division of equity shares of the company having face value of Rs. 10 per share into equity shares of Re. 1 per share, subject to the approval of shareholders of the company. Record date for such subdivision of shares will be intimated in due course.

2. Alteration of capital clause in the Memorandum of Association (MOA) of the company consequent upon subdivision of equity shares of the company subject to the approval of shareholders."

Vardhman Polytex Shares Performance & Return: The 52-week high price of Vardhman Polytex shares on BSE is Rs 85.92 apiece and 52-week low price is Rs 21.80 apiece, respectively. The company has a market capitalisation of Rs 205.01 crore. Vardhman Polytex shares gave return of 29% in last 6-months, surged 244% in last 1-year, rallied 319% in last 3-years, and soared 706% in last 5-years.

Vardhman Polytex About: Vardhman Polytex Limited (VPL) was originally promoted by Mohta Group and PSIDC under the name & style, M/s Punjab Mohta Polytex Limited. In 1987, Mahavir Spinning Mills Limited has taken over the Management of the Company and the said company becomes the subsidiary of MSML. After the family settlement, in Jan'03 The Company is ushering under the newly formed Oswal group. As of today, the spindlage of the company stands at 1,95,168 nos. The Company is having its plants at Bathinda, Ludhiana & Nalagarh, according to its LinkedIn page.

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