Cosmo First stock gained nearly 10 per cent today after the firm said its board would consider buyback of shares on December 1. Cosmo First stock gained 9.78 per cent to Rs 761.15 against the previous close of Rs 693.80 on BSE.
Also Read – Insurance Claim: Three methods to help you resolve insurance-related issues faster; check details
The stock opened with a gain of 2.34% at Rs 710.05. Cosmo First stock is trading higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.
The stock has gained 34.77% in the last 3 days. In a week, the stock has risen 33.56%. In a year, the stock has fallen 19.35 per cent and fallen 18.3% in 2022. Total 0.15 lakh shares of the firm changed hands amounting to a turnover of Rs 1.11 crore on BSE. The market cap of the firm rose to Rs 2,055.33 crore.
The stock hit its 52-week high of Rs 1427.38 on April 11, 2022 and a 52-week low of Rs 657.95 on November 15, 2022.
The company in a communication to bourses said, “Pursuant to provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015, and Company’s Code of Conduct for prevention of Insider Trading, the trading window for dealing in the securities of the company is closed from Monday, November 28, 2022 up to 48 hours after the conclusion of the aforesaid Board Meeting.”
The firm reported a 24.74 per cent fall in Q2 net profit to Rs 73.23 crore against Rs 97.30 crore profit in the corresponding quarter of the previous fiscal. However, sales rose 2.45% to Rs 777.94 crore in the September quarter against Rs 759.37 crore in the corresponding quarter of the previous fiscal.
Also Read – This Stock is Giving a 5.5% Dividend Next Week!
Cosmo First Limited, formerly Cosmo Films Limited, is a manufacturer of semi-finished products of plastics. The company’s products comprise biaxially oriented polypropylene films, thermal films and coated films. It operates through two segments: Packaging Films and Others. The company has manufacturing facilities spread across India and Korea Meanwhile, Sensex hit all time high of 62,701and Nifty scaled a fresh peak of 18,614 in the afternoon session. BPCL, Reliance, Hero MotoCorp, Asian Paints, Wipro were among the top gainers.
