Penny stock under ₹10: Axita Cotton share price will remain in focus in Monday’s trading session after the company a new update on participation in the Corporate Insolvency Resolution Process (CIRP).
The small-cap penny stock closed 5% higher at ₹7.68 apiece on Friday. During the session, the stock touched an intraday high of ₹7.90 and intraday low of ₹7.30.
Axita Cotton’s business update
In an exchange filing dated 21 August, Axita Cotton said that the company has submitted Expression of Interest for participation in the Corporate Insolvency Resolution Process (CIRP) of Varidhi Cotspin Private Limited.
Varidhi Cotspin Private Limited (Varidhi) is a manufacturer of cotton yarn located in Dholka, Ahmedabad, Gujarat and having its…