A bonus issue refers to the allocation of additional shares to existing shareholders at no extra cost, typically based on their current holdings. Companies utilize this method to reward shareholders, enhance liquidity, and reflect financial health, converting retained earnings into share capital instead of distributing cash dividends.
Here are the stocks that are issuing bonus in the coming week:
1. Mayukh Dealtrade Ltd
Mayukh Dealtrade Ltd. (formerly known as Mayukh Commercial Ltd.) is a trading services provider. It is engaged in buying, selling and distributing sarees, consumer, and household goods. The firm also engaged in dealing and investing in securities such as shares, debentures, bonds, obligations, and securities issued and guaranteed by Government securities.
With a market capitalization of Rs 26.64 crore, the shares closed at Rs 2.22 per share, decreased by around 1.33 percent as compared to the previous closing price.
The company considered and approved issuing bonus shares of the company in the ratio of 3:5, where for every 5 shares an investor holds, they will receive 3 additional shares as a bonus held by eligible shareholders as on the record date. The record date of the bonus issue is 17 Jan 2024.
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2. Kitex Garments Ltd
Kitex Garments Limited is an India-based apparel manufacturer and exporter of knitted garments for infants and kids. The Company is engaged in the manufacturing of cotton and organic cotton ready-to-wear garments for infants and children in the age group of 0-24 months
With a market capitalization of Rs 4,621.75 crore, the shares closed at Rs 695.00 per share, increased by around 2.08 percent as compared to the previous closing price.
The company considered and approved issuing bonus shares of the company in the ratio of 2:1, where for every 1 share an investor holds, they will receive 2 additional shares as a bonus held by eligible shareholders as on the record date. The record date of the bonus issue is 17 Jan 2024.
3. B N Rathi Securities Ltd
B.N. Rathi Securities Limited is a holding company primarily engaged in the business of broking commodities. Its segments include broking activities and property development. It is engaged in all spheres of stock broking, which enables the Company to cater to a range of requirements of a growing and diversified retail.
With a market capitalization of Rs 259.38 crore, the shares closed at Rs 250.00 per share, increased by around 1.05 percent as compared to the previous closing price.
The company considered and approved issuing bonus shares of the company in the ratio of 2:1, where for every 1 share an investor holds, they will receive 1 additional share as a bonus held by eligible shareholders as on the record date. The record date of the bonus issue is 1:1 Jan 2024.
Written by Abhishek Singh
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