Now Reading: Aastha Spintex shares hit 10% upper circuit at Rs 80 on dividend news
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Aastha Spintex shares hit 10% upper circuit at Rs 80 on dividend news
Aastha Spintex shares hit 10% upper circuit at Rs 80 on dividend news
Shares of Aastha Spintex, a Gujarat-based cotton yarn maker, surged 10% to Rs 80 on Wednesday, August 26, after the company announced its board will consider a dividend at its Annual General…
Shares of Aastha Spintex, a Gujarat-based cotton yarn maker, surged 10% to Rs 80 on Wednesday, August 26, after the company announced its board will consider a dividend at its Annual General Meeting on September 16, 2026. The record date for the dividend, if declared, is September 9.
The company also plans a 1:1 bonus issue and an increase in authorised share capital from Rs 45 crore to Rs 100 crore. These moves follow its acquisition of Falcon Yarns, which doubled annual spinning capacity to 17,457 MT, and an order book of Rs 51.46 crore for Falcon Yarns from August to October 2026.
The stock, which listed on July 6, 2026, remains 41% below its IPO issue price of Rs 136.
Indian Opinion Analysis
The stock's 41% discount to its IPO price reflects the broader small-cap rout, but the bonus and dividend announcements are classic signals management uses to reassure investors after a sharp fall. The authorised capital hike from Rs 45 crore to Rs 100 crore is a procedural step needed to issue the bonus shares, it does not dilute existing holdings directly. The real test will be whether the forward integration into fabric manufacturing, announced alongside these payouts, translates into revenue growth in the quarters ahead. Shareholders will vote on the dividend and bonus at the September 16 AGM.
Source: livemint.com
This brief was synthesised by AI from the source linked above.
