AKI India Ltd is a producer and exporter of leather goods whose shares have climbed to new highs in four consecutive sessions this week gaining 16.11 per cent in just four trading sessions, hitting the upper circuit in three of these four sessions.
On August 25, shares of AKI India climbed to a new lifetime high of Rs 84.95 apiece levels on BSE. However, it succumbed to profit booking and closed weaker at Rs 80 apiece with a loss of 1.17 per cent over its previous close of Rs 80.95.
This Consumer Durables sector stock hogged the limelight after the company board approved the issue of bonus shares in the ratio of 3:10 (i.e. 3 bonus shares for 10 shares held in the company) on June 2.
Currently, the company is in the process of migrating listing/trading from the BSE SME Platform to the Main Board of BSE Ltd and listing of equity shares of the company to the Main Board of NSE, subject to the approval of its members by way of Postal Ballot from August 3 to September 1. The results of the voting will be announced on or before September 3.
AKI India with a market capitalisation of Rs 103 crore has gained multi-folds in the last one year, gaining 697 per cent while rising 145 per cent in just two months.
AKI India is engaged in the activities of producing and export of saddlery goods, services of leather shoes and trading of leather chemicals at the domestic level. It deals in all kinds of footwear’s leather accessories. The company has a monthly production capacity of, 1200000 Sq. Ft. for leather upholstery, bag leather, belt leather and footwear leather.