Multibagger Small-Cap Textile Stock Hits A New High On Bonus Issue Proposal

Shubham Polyspin came into existence in 2012 and currently the company is producing 3000 MT of Polypropylene Multifilament Yarn per annum. Over the years Shubham Polyspin has emerged a sought-after brand in the Polypropylene Yarn (PP Yarn) sector across the globe. The board of the company has now announced that it would meet on August 13, 2022 to consider the bonus share issue.

It has a market capitalization of Rs 251 crore at the time of writing the story. Check details below:

1. Shubham Polyspin To Consider Bonus Share Issue Soon

The board of directors of the company in their BSE filing stated, "Shubham Polyspin Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/08/2022 ,inter alia, to consider and approve With reference to the above, we have to inform you that the next meeting of the Board of Directors of the Company is scheduled to be held on 13th August, 2022 inter alia: 1. To take on record Unaudited Financial Results for the quarter ended on 30th June, 2022 2. To consider recommendation of Bonus equity shares 3. To review business activities of the Company 4. To consider any other matter with the permission of the Chairman In continuation of our letter dated 1st July, 2022, the period of closure of trading window shall be from 1st July, 2022 till 15th August, 2022 (Both days inclusive) i.e. 48 hours from the declaration of financial result for the quarter ended on 30th June, 2022 & other matters. This is as per Regulation 29 and other relevant Regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015."

Therefore, the board of directors will now meet on August 13, 2022 to consider issuing of bonus shares and other aspects.

2. Shubham Polyspin Stock Outlook

The current market price of the stock is Rs 228.30 apiece with a gain of 0.93% in today's trading till 11:45 pm. The stock has also hit a new 52-week high today at 228.30 apiece. The 52-week low of the stock is Rs 112.80 apiece. In the last 7 days only, the stock has gained 4.5% and in 1 month the stock has given a strong return of 42%. The stock has given multibagger returns of 600% in the last 3 years.

3. About Shubham Polyspin

It has continuously proved to be the best polypropylene manufacturers and narrow fabrics manufacturers. Over a period of 8 years, Shubham Polyspin Ltd has become a much sought-after brand in the PP yarn sector and as polypropylene manufacturers across the globe, according to its website. Shubham Polyspin is an experienced manufacturer of polypropylene products like PP yarn, narrow fabrics etc.