Home / Markets / Stock Markets /  2 multibagger stocks to watch ahead for bonus shares: Do you hold any?
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With the Nifty closing below 17,800, the Indian equity market ended weaker after an 8-day rising trend. The Nifty was down 198.05 points or 1.10% at 17,758.45 at the close, and the Sensex was down 651.85 points or 1.08% at 59,646.15. At the end of trading, the top 5 gainers were Adani Ports, L&T, Infosys, TCS, and Eicher Motors, while the top 5 losers were Reliance Industries Ltd., Bajaj Finance, ICICI Bank, HDFC Bank, and Bajaj Finserv. Analysts forecast that the Nifty might climb to exceed 18000 levels, but instead, investors can keep an eye out for the following stocks to receive bonus shares while the market is volatile.

Bharat Gears

“Pursuant to the Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that 3/22-23 Meeting of the Board of Directors of the company is scheduled to be held on August 24,2022 inter_alia; to consider the issue of Bonus Shares to the members of the Company by way of capitalization of reserves," said the company today in a regulatory filing.

Today, Bharat Gears Ltd. shares closed at 173.50 apiece, up 0.12% from yesterday's close of 173.30. The stock price climbed from 15.11 on January 1st, 1999 to the level it is at now, representing a multibagger gain and an all-time high of 1,048.25%. The stock has gained 47.10% over the past year, and it has climbed 19.57% YTD so far in 2022.

Insecticides India

The company has said in a stock exchange filing that “Pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 this is to inform that “Pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 this is to inform that a meeting of the Board of Directors of Insecticides (India) Limited will be held on Saturday, August 20, 2022 inter-alia to consider a proposal for issue of Bonus shares to the equity shareholders of the Company, subject to approval of shareholders."

The shares of Insecticides India Ltd closed today at 1,014.00 apiece, down by 0.49% from the previous close of 1067.90 per share. The stock price climbed from 75.60 on June 1, 2007, to the level it is at today, representing a multibagger return and an all-time high of 1,241.27%. In the last 1 year, the stock has gained 43.16% and on a YTD basis, the stock has gained 41.21% so far in 2022.

Commenting on the performance of the market, Hemant Kanawala, Senior Executive Vice President & Head Equity, Kotak Mahindra Life Insurance Company Limited said “Overall Monsoon is progressing well (~9.5% above normal, cumulatively), with some spatial weakness in Eastern India. While sowing progress has been relatively weak which may impact crop output, India’s food stocks remain healthy which in turn will help keep food inflation in check. On the other hand, the recently concluded earnings season saw healthy sales growth, with some pressure on profitability arising from high energy prices. Owing to the recent correction in crude prices, pressure on margins should ease off over the next couple of quarters. Going forward, all eyes will remain on domestic recovery. Upcoming festive season demand is something markets will watch out for. The festival season demand is expected to be buoyant as this is the first normal festival season post-COVID-19 and rural segment may see buoyancy on back of strong monsoon."

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