Foreign investor Nav Capital has made a big bet on small-cap company Axita Cotton, which has given returns of over 1,300% in the last two years. Here are the details:
Foreign investor buys 1 million shares: Nav Capital has purchased 1 million shares of Axita Cotton at a price of Rs 27.18 per share. The company’s shares have surged from Rs 2 to over Rs 27 in the last two years.
Axita Cotton bags a big order: Recently, the company announced a share buyback after receiving a supply order worth Rs 26.93 crore for raw cotton from Bangladesh-based company Badshaah Textiles Limited, which will be fulfilled by April 6, 2023.
Impressive returns for investors: Axita Cotton’s shares were trading at Rs 1.84 on July 9, 2021, on the Bombay Stock Exchange, and closed at Rs 27.22 on June 21, 2023. This represents a return of 1,379% in this period. If someone had invested Rs 100,000 in the company’s shares on July 9, 2021, it would be worth Rs 14.79 lakh today.
Disclaimer: Investing in the stock market involves risks, and the information provided here is only for educational purposes. Consult your financial advisor before making any investment decisions.
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