Ecommerce News

Multibagger stock hits record high after announcement of e-commerce entry

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Multibagger stock: Kshitij Polyline shares are NSE listed microcap stock with market cap of 89 crore. This is one of the multibagger stocks in Indian stock market as it has surged from around 34 apiece levels to 88 per share mark in last two months. The microcap company announced on Monday to foray into e-commerce domain and launch various products to increase its product range. This went down well on Dalal Street and the multibagger stock hit upper circuit on Tuesday session and climbed to its new life-time high of 87.40 apiece levels on NSE.

The multibagger share opened upside on Tuesday session and went on to hit its intraday high of 87.40 on NSE, which is now its new life-time high. The microcap stock is available for trade on NSE only.

The multibagger microcap company announced to foray into the e-commerce segment through its exchange filing on 12th September 2022. In its stock market exchange filing, the company said, “The Board has considered and approved entering into the eCommerce space for increasing revenue and developing its brand from stationery products and its ancillary products through all possible modes like developing a website, selling on other e-platform, opening stores for speedy delivery, tie-up with other vendors, off-line and online marketing platforms and distributors, all possible efforts to increase the revenue and take advantage of technologies and e-platforms.”

It also announced to launch various products citing, “The Board also approved the agenda for increasing the product range to all possible products which will be useful to schools, colleges, offices, corporates, printers, government departments and other places where such products will be consumed and utilised. The Board will strengthen its product line with quality and durability through research & development and requirements of consumers.”

Kshitij Polyline is a microcap company with market cap of 88 crore. Kshitij Polyline shares ended on Tuesday with a trade volume of 30,768, which is much lower than its last 20 sessions average volume of 95,545. Its book value per share is 18.18 whereas its 52-week low is 25.40 on NSE.

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