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Cosmo Films shares jumped 17% in two days, company may announce share buyback soon

Cosmo First Shares: Shares of Cosmo First (formerly Cosmo Films) on Tuesday, November 29, surged nearly 7% to hit their one-year high of Rs 815 on the NSE. In just the last 2 days, the shares of the company have so far risen by about 17%. In fact, the company said on Monday that its board of directors will meet on December 1, in which the proposal for share buyback will be considered. After this, the shares of Cosmo First are seeing a boom for the last 2 days.

Cosmo First said in a notice sent to the stock exchanges, "The meeting of the Board of Directors of the company will be held on Thursday, December 1. The proposal for buyback of the company's equity shares and other important issues will be considered in the meeting." "

Multibagger returns of 238.39% in 5 years

At 2:30 pm, at the time of writing the news, Cosmo First shares were trading at Rs 798.20, up 5.81% on the NSE. Cosmo First shares have declined by about 11.71 per cent since the beginning of this year. The current market value of the company is Rs 1,870 crore. However, in the last 5 years it has given multibagger returns of 238.39 per cent to its investors.

Profit decreased in September quarter

Cosmo First's net profit declined nearly 24 per cent to Rs 73 crore in the recently ended September quarter. At the same time, its consolidated sales increased by 3 percent to Rs 778 crore during this period. The company's operating (EBITDA) profit also declined to Rs 124 crore. Its BOPP film margin stood at around Rs 20 per kg in the September quarter.

What business does the company do

Cosmo First Limited is an Indian multinational company engaged in manufacturing BOPP films for packaging, label, lamination and industrial use. The company is headquartered in the capital Delhi and has manufacturing units in South Korea apart from India. It is the world's largest manufacturer of thermal lamination films, the second largest manufacturer of specialty label films, and the largest supplier of industrial application films.

Disclaimer: The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. StockPro never advises anyone to invest money here.

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