Commercial Syn Bags' stock price near 52-week high as board mulls bonus issue

12 Oct 2022 , 02:42 PM

Commercial Syn Bags Limited’s counter climbed as much as 11% in today’s trade to set a new intraday and 52-week high of Rs329 on the BSE.

The packaging firm said on Tuesday that a board meeting would be held on October 22 to evaluate the proposal for the bonus share issue.

The board will meet to address an increase in authorised share capital, changes to Clause V of the Memorandum of Association, and the Notice of the 1/2022-23 Extraordinary General Meeting (EGM). The meeting will also decide on the date, time, and location of the EGM, according to the company’s filing with the exchange.

Commercial Syn Bags is a multibagger stock with 612% 3-year returns. The stock has quadrupled investors’ wealth in the last year, returning 119%.

Commercial Syn Bags is engaged in the manufacturing of FIBC, tarpaulin, weaved sacks, and BOPP bags.

At around 2.45 PM, Commercial Syn Bags was trading 0.52% higher at Rs297.75, against previous close of Rs296.20 on BSE.

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