Soared 468% YTD, this multibagger stock sets record date for 1:1 bonus shares

The company has said in a regulatory filing that “Pursuant to Regulation 42 of the Securities Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, this is to inform you that Wednesday, October 12, 2022 has been fixed as the Record Date for the purpose of determining entitlement/ eligibility of shareholders (Member) to receive the Bonus Shares in the ratio of 1:1 i.e. 1 (One) Bonus Shares for every 1 (One) fully paid-up Equity Shares having face value of ₹10/- (Rupees Ten) each held by the member, subject to the approval of the shareholders in the Annual General Meeting to be held on September 30, 2022.”

Atam Valves Ltd.’s stock dropped 4.99% from the previous closing of Rs. 284.30 to settle on Friday at Rs. 270.10. On Friday the stock recorded a total volume of 3,000 shares on the BSE. The stock price has gone up from ₹40 on October 9, 2020, to the current market price during the past two years, resulting in a multibagger return, an all-time high of 575.25%, and a CAGR of 159.81%. The stock price soared from ₹51.50 on October 1, 2021, to the current market price during the course of the last year, resulting in a multibagger return of 424.47% and a CAGR of 429.41%. On a YTD basis, the stock price has risen from ₹47.50 as of 3rd January 2022 to the current market price which logs a multibagger return of 468.63% so far in 2022. 

In the last 6 months, the stock price has risen from ₹116 as of 1st April 2022 to the current market price which logs in a multibagger return of 132.84%. However, in the last 1 month, the stock has fallen 20.56% and in the last 5 trading sessions, the stock has fallen 13.71%. On the BSE, the stock had touched a 52-week-high of ₹370.00 on (13/09/2022) and a 52-week-low of ₹37.25 on (16/11/2021) indicating that at the current price level the stock is trading 27% below the high and 625.10% above the low. For the quarter ended June 2022, the company recorded a promoter shareholding of 72.73% and a public shareholding of 27.27%. The stock is trading at a P/B of 10.12 and a PE of 79.59, which is much higher than its peers such as Exide Industries, Endurance Technologies, Motherson Wiring, Uno Minda, Bosch and Samvardhana Motherson International Ltd.