Packaging Solution Provider Stock Hits New 52-Week High On Bonus Issue Proposal

Amid reports of bonus share issue proposal, the stock of GKP Printing & Packaging has hit new 52-week high today at Rs 245.75. The board of directors of the company are scheduled to hold a meeting on August 1, 2022 pertaining to issue of bonus share. The company has a market capitalization of Rs 357.92 crore.

Additionally, the company has also said that it seeks to raise its share capital as it is planning to list equity shares on National Stock Exchange (NSE) via direct listing route. Check key details below about the recent developments related to the company:

1. GKP Printing & Packaging Board To Consider Bonus Share Issue

The board of directors have stated in the BSE filing, "G. K. P. Printing & Packaging Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 01/08/2022, inter alia, to consider and approve 1. Issuance of Bonus Shares 2. To Consider and approve Increase in Authorised Share Capital of the Company. 3. To Consider and Approve Alteration of Capital Clause of Memorandum of Association as per provisions of Companies Act, 2013 4. Any other matter that may deem necessary with the Permission of the Chair.

2. GKP Printing & Packaging Stock Outlook

The current market price of the stock is Rs 244 apiece. Its 52-week high is Rs 245.75 apiece and 52-week low is Rs 34.75 apiece, respectively. The stock has caused quite a buzz ever since the news of upcoming board meeting to consider bonus share issue is doing the round. Today the stock of the company has touched its new 52-week high at Rs 245.75 apiece.

Multibagger returns: The stock has given multibagger returns with 602% return in 1 year, 1207% returns in 3 years and 1294% return in 5 years.

3. About GKP Printing & Packaging Ltd

G.K.P Printing & Packaging Ltd. was established in the year 1994 with a vision to become one of the leading manufacturers in the world of packaging. A dedicated team for manufacturing and quality assurance personnel at G.K.P Printing & Packaging Ltd. ensures timely supplies and quality that invariably exceeds client expectation. It is one of the leading manufacturers and exporters in India of cardboard boxes, corrugated boxes, display boxes, mailer boxes, labels, stickers, tags, inserts & leaflets, mono carton etc, according to its website. G.K.P Printing & Packaging Ltd. caters to various industries such as garment exports, Steel utensils, Playing Cards, Liquor , Toys, Pharma, Printers, Engenering, Confectionery and FMCG.