Multibagger stock hits new all-time high as Board to consider bonus issue soon

A small cap company with a market valuation of ₹321 crore that operates in the packaging industry is GKP Printing & Packaging Ltd. G.K.P Printing & Packaging Ltd., one of the top makers of packaging worldwide, serves a variety of sectors, including garment exports, steel utensils, playing cards, liquor, toys, pharmaceuticals, printers, engineering, confectionery, and FMCG. The company is among the major producers and exporters of cardboard boxes, corrugated boxes, display boxes, mailer boxes, labels, stickers, tags, inserts and leaflets, mono boxes, etc. in India.

The stock reached a new all-time high of ₹219.25 and closed at ₹219.10 level, up 1.27 per cent from its previous close, ahead of the company's board scheduled meeting on August 1, 2022, (Monday) to consider and approve the issuing of bonus shares. As of today, the stock has reached a new 52-week high, the 52-week low for the stock was Rs. 26.00, which was reached on July 15, 2021, meaning that the stock is currently trading 742 per cent above the 52-week low at Rs. 219.10. Today's BSE trading volume was 8,41,140 shares.

On August 1st, 2022, the Board of Directors of the Company will meet to discuss and approve the issuance of bonus shares, the increase in the Company's authorised share capital, and the alteration of the capital clause in the Memorandum of Association in accordance with the 2013 Companies Act.

The share price of GKP Printing & Packaging has climbed from ₹26.70 on July 16, 2021 to the current level during the past year, representing a multibagger return of 720.60 per cent. The stock has gained 58.19 per cent over the past six months and 51.63 per cent year to date in 2022. The stock has gained 28.02 per cent over the past month and 4.83 per cent over the past five trading days. The stock is presently trading above the 5 days, 20-day, 50-day, 100-day, and 200-day moving averages after reaching a new all-time high. But the Relative Strength Index (RSI) for the month shows a bearish indication and is in the overbought zone.