Multibagger Packaging Stock Announces 2:1 Bonus Shares, 600% Return In 3 Years

Board of Commercial Syn Bags Ltd announced 2:1 bonus shares in the meeting held on October 22, 2022. The small cap company operates in packaging sector. The company has a market capitalisation of Rs 405 crore. Check key takeaways pertaining to bonus share issuance:

1. Commercial Syn Bags To Issue Bonus Shares In 2:1 Ratio

The board of directors of Commercial Syn stated in its regulatory filing, "The outcome of the Board Meeting held on 22nd October, 2022 is as follows: Approval for issuance of bonus share in the proportion of 2 (Two) new equity bonus share for every 1(One) existing fully paid equity share of face value of Rs. 10/- (Rupees Ten). (Brief Details is enclosed as Annexure 1)."

2. Commercial Syn Bags Stock Outlook

The last trading price of Commercial Syn is Rs 304 apiece. The 52-week high is Rs 329 apiece and 52-week low is Rs 146 apiece, respectively. The stock gained 4.85% intraday on October 21, 2022.

3. Commercial Syn Bags 3-Years Return And Latest Quarterly Result

The stock has given a return of 606% in last 3-years, 103% in last 1 year, and 11% in last 3 months. The company announced a consolidated total income of Rs 92 crore, down 6% for the quarter ended June 30, 2022. The company declared a net profit after tax at Rs 4 crore in latest quarter.

4. Commercial Syn Bags About

Commercial Syn Bags also known as Comsyn is a manufacturer of FIBC, Tarpaulin, Woven Sacks, and BOPP Bags, located in Indore, a city in Central India. Having more than 3 decades of experience, it seeks to provide customers with the best possible solution for their packing needs within a specific time frame. It has a strong customer base spread across all the six continents.