Textile stocks 35% higher than 52-week low, BOD will recommend bonus shares soon

With a market valuation of Rs. 631.54 Cr., Gloster Ltd. is a small capital company engaged in the textile industry. The company manufactures and exports all kinds of jute and jute related products, including jute woven and nonwoven geotextiles, rot-resistant, flame retardant treated fabrics, jute products .

The company said in a stock exchange filing that “This is to inform you that a meeting of the Company’s Board of Directors will be held on Monday, November 7, 2022 to consideration among other businesses: 1. Adoption of the unaudited financial results for the half year ended September 30, 2022. 2. Announcement of bonus stock distribution to shareholders’ equity Company. Moreover, in our next section on the letter is not even. GL/AA/2022-2023/0465 on September 21, 2022, it is again announced that the Trading Window for Gloster Limited securities has been closed for Designees and their Relatives on October 1, 2022 and will open 48 hours after the public announcement of the results of the Board of Directors meeting for the businesses mentioned above. “

Gloster Ltd shares close on Friday at 1,155.30 per person, down 1.71% from 1,175.45. In the last trading session, this stock recorded a total volume of 1,292 shares compared to the 20-day average volume of 586 shares. Over the past 5 years, the stock has dropped 5.55% and in the past 1 year, the stock has increased 2.84%.

On a year-to-date basis, the stock is up 7.55% so far in 2022. The stock hit a 52-week high of 1,350.05 on April 4, 2022 and the 52-week low is 850.00 on June 20, 2022, showing that at current market prices, the stock is trading 14.50% below the high and 35.78% below the low. For the quarter ended September or the second quarter of year 23, the company reported shareholder equity of 72.63%, DIIs holding of 14.79% and public shares of 12, 57%.

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