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Small-cap stock below ₹10: Sarveshwar Foods shares registers huge buying interest despite weakness in benchmark indices during early morning deals on Wednesday
PremiumSmall-cap stock under ₹5: Shares of Sarveshwar Foods Ltd are one of those rare stocls on Dalal Street that has registered huge buying interest during early morning deals despite weakness in key benchmark indices. The penny stock under ₹5 opened higher and went on to hit upper circuit within few minutes of stock market's opening bell today. In fact, the small-cap stock below ₹10 has been in bull trend after trading ex-bonus and ex-split stock on 15th September 2023. On Friday, the small-cap stock had traded ex-bonus for issuance of 2:1 bonus shares whereas on the same date, this stock traded ex-split for stock subdivision in 1:10 ratio. On Monday session as well, this small-cap stock hit 5 per cent upper circuit.
Sarveshwar Foods news
As per the latest exchange communication, Sarveshwar Foods Ltd has informed Indian stock market bourses about allotment of bonus shares in 2:1 ratio. This means two bonus shares for every one share held on bonus share record date i.e. on 15th September 2023.
"In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company at their meeting held on today i.e. Monday, September 18, 2023, inter-alia, considered and approved the following business items: allotted 65,25,44,000 Equity shares of Rs. 1/- each as fully paid Bonus Shares to the existing shareholders of the Company as on Record date i.e. September 15, 2023 in the ratio of 2:1 i.e. 2 (Two) Equity Shares for every 1 (One) Equity Shares having a face value of Re. 1/- each held," small-cap stock below ₹10 informed Indian exchanges.
"Post the above allotment, the paid-up Equity Share capital of the Company would stand at Rs. 97,88,16,000/- divided into 97,88,16,000 equity shares of Re. 1/- each," Penny stock below ₹5 added.
Sarveshwar Foods shares are available for trade on both NSE and BSE and its current market cap is ₹489 crore. Its current trade volume on NSE is around 4.49 lakh and near one and half hour of trade is still left during Wednesday session. It has hit upper circuit on Friday, Monday and Wednesday. On Tuesday, stock market was closed for Ganesh Chaturthi festival. So, in this truncated week, this small-cap penny stock has hit upper circuit on all two sessions.
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