Multibagger apparel stock turned ex-split today; up 618% in three years

Shares of multibagger Pearl Global Industries Limited rose over 3% as the stock of the garments and apparel maker turned ex-split today. The board of the firm had announced a stock split in the ratio of 1:2 last year. It fixed January 5, 2024 as record date for sub-division of equity shares of face value of Rs 10 each to Rs 5 each fully paid up. 

In early trade, Pearl Global Industries shares rose 3.49% to Rs 715 against the previous close of Rs 690.85 on BSE. Market cap of the firm rose to Rs 3036.21 crore. Total 1865 shares of the firm changed hands amounting to a turnover of Rs 13.09 lakh on BSE today.  

Pearl Global stock has gained 253% in a year and risen 302% in two years. It has rallied 618% in three years. The stock hit a 52-week high of Rs 735 on October 17, 2023 and a 52-week low of Rs 167.18 on February 3, 2023.       

Pearl Global stock has a one-year beta of 0.6, indicating very low volatility during the period.    

In terms of technicals, the relative strength index (RSI) of Pearl Global stands at 64.5, signaling it's trading neither in the overbought nor in the oversold territory. Shares of Pearl Global are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.      

The objective of the stock split is (i) To encourage wider participation of small investors, and (ii) To enhance liquidity of the equity shares of the company in the stock market. 

On November 8, 2023, the board of directors of the company declared a second interim dividend (special dividend) of Rs 12. 5 per equity share i.e. 125% on the face value of Rs. 10/- each for the financial year 2023-24 considering the continuously improved business performance of the entire group over the last few quarters. 

Pearl Global Industries Limited is engaged in manufacturing, sourcing, distribution and export of ready-to-wear apparel through its domestic and global facilities and operations. The company provides end-to-end supply chain solutions to brands across the globe. The company provides complete apparel solutions to fashion brands across categories.  

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