Multibagger stock hits upper circuit, as Board sets record date for stock split

Small-cap firm Colorchips New Media Ltd operates in the consumer discretionary sector and has a market valuation of ₹162.87 Cr. A firm with its headquarters in India, Colorchips New Media Limited is specialized in the creation of comic material for a variety of media, including cinema, television, print, social media, and the internet. The company offers 2D animation, 3D animation, game development and programming, special effects, character designing for animation, graphic design, print publication services, content production, multi-media, and web development. The corporation has made the record date public in order to determine the eligibility of the shareholders for the 1:5 stock split.

The company has said in a regulatory filing that “Pursuant to the Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company at its meeting held on 24th september, 2022, has fixed the Record Date on Wednesday, 12th October, 2022 for determining the eligibility of Shareholders with regard to split/sub-division of Equity Shares of the Company from Face Value of Rs.10/- each to Face Value of Rs.2/- each. The resolution for split/sub-division of equity shares has been approved by the shareholders in the 37th Annual General Meeting of the Company held on 24th September, 2022.”

On the BSE the shares of Colorchips New Media Ltd closed today at the upper circuit level of ₹95.75 apiece, up by 4.99% from the previous close of ₹91.20. In trade today the stock recorded a total trade volume of 719,708 shares compared to the 20-Day average volume of 196,504 shares. The stock price climbed from ₹36.50 on September 28, 2021 to the current market price in the past year, representing a multibagger return of 162.33% and an approximate CAGR of 163.89%. The stock price soared from ₹25 on September 27, 2019, to the current market price during the past three years, resulting in a multibagger return of 298.96% and a CAGR of 56.05%. 

The stock price has gone up from ₹23.30 on January 3, 2022, to the current market price on a YTD basis, representing a multibagger return of 310.94% so far in 2022. In the last 6 months, the stock price has risen from ₹31.80 as of 28th March to the current market price which logs in a multibagger return of 201.10% in that period. In the last 1 month, the stock has fallen 11.75% and in the last 5 trading sessions, the stock has fallen 9.97%. On the BSE the stock had touched a 52-week-high of ₹160.05 on (09/09/2022) and a 52-week-low of ₹21.10 on (20/12/2021), indicating that at the current market price the stock is trading 40.17% below the high and 353.79% above the low.