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Garment Mantra Lifestyle Shares: Penny stock Garment Mantra Lifestyle shares were in focus today. The company's shares fell 0.15 per cent to close at Rs 6.60 today. Garment Mantra Lifestyle has announced a bonus in the ratio of 1:1. That is, for every one share held on the record date, one share of the company will be free.
What did the company say?
The company said in a director filing that the board has approved the issue of bonus shares in the ratio of 1:1 to the existing equity shareholders. The company's board meeting will be held on August 3. It is worth noting that the market cap of the company is Rs 66.25 crore. Its 52-week high price is Rs 9.22 and 52-week low price is Rs 3.78. Garment Mantra is a micro-cap company in the lifestyle apparel industry. The company is a top producer, distributor of manufactured garments and manufacturers.
What is Expert View?
Market analyst VL told A Good Returners- Small-cap company Garment Mantra Lifestyle Limited is trading at Rs 6.60 and its current volatility has attracted positive attention from investors in the short and medium term. In one year, this stock has given a return of 32.73 per cent. Therefore, those who are looking for short-term and medium-term gains can consider entering the stock at a buying range of Rs 6.50-6.70. In the coming days, the company's stock can trade between Rs 7.5 to Rs 11. The stop loss for this is 5.50.
