7:10 Bonus Shares For 1st Time: 6th, September Record Date; Where The Target Price Is Heading?

In terms of non-woven fabrics, non-woven carpets, non-woven felts, non-woven designer carpets, and non-woven geo textiles, Indo Cotspin is an exporter, manufacturer, importer, trader, and supplier. Established in 1995, the company offers a vast array of products at a highly competitive price for global export. With a market valuation of Rs 37.32 Cr, Indo Cotspin's shares closed Tuesday's trading session 2% down at Rs 88.84 each following the company's announcement of the record date for 7:10 bonus shares.

Indo Cotspin Bonus Shares

"Pursuant to regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that the Company has fixed Friday, 6th, September, 2024 as the "record date" for the purpose of determining the eligibility of shareholders for issuance of Bonus Shares in the ratio of 7:10 (i.e., 7 new equity share of Rs. 10 each for every 10 equity share of Rs.10 each held as on the above-mentioned record date). subject to approval of shareholder in the ensuing Annual General Meeting," said Indo Cotspin in a stock exchange filing.

Indo Cotspin Financials

Revenue from operations for the firm came to Rs. 3.07 crore in the June 2024 quarter, which was 5.15% less than the Rs. 3.24 crore in the June 2023 quarter. Its net profit increased by 159.11% from Rs. 0.04 crore in Q1FY24 to Rs. 0.10 crore in Q1FY25. EBITDA improved by 17.39% from Rs. 0.23 crore in June 2023 to Rs. 0.27 crore in June 2024.

Indo Cotspin Share Price Target

"Indo Cotspin stock price is bearish on the Daily charts with strong resistance at 95. A Daily close below support of 85 could lead to a target of 77.5 in the near term," suggested A R Ramachandran, Independent Research Analyst.

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