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Business News/ Markets / Stock Markets/  CDGS stock is 59% above 52-week-low, Board declares 1:1 bonus shares
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CDGS stock is 59% above 52-week-low, Board declares 1:1 bonus shares

CL Educate Ltd is a small cap company having a market worth of ₹435.74 Cr and the company operates in the consumer discretionary goods & services (CDGS) industry.

The shares of CL Educate Ltd closed today at ₹154.45 apiece, up by 2.08% from the previous close of ₹151.30. (Bloomberg)Premium
The shares of CL Educate Ltd closed today at 154.45 apiece, up by 2.08% from the previous close of 151.30. (Bloomberg)

CL Educate Ltd is a small cap company having a market worth of 435.74 Cr and the company operates in the consumer discretionary goods & services (CDGS) industry. CL Educate Ltd concentrates on varied divisions of education having 25+ years of its existence. The corporation runs test-prep facilities in the UAE as part of its global operations. The Board of Directors set a record date to determine the shareholders' eligibility for the bonus shares, which the company has declared in a 1:1 ratio.

The company has said today in a stock exchange filing that “We refer to our letter dated November 02, 2022, informing about the Declaration by the Board of Directors of the Bonus Equity Shares of the Company in the Ratio of 1:1 i.e., 1 Equity Share of face value of Rs.5/- each be issued for every 1 existing Equity Share of face value of Rs.5/- each, subject to the approval of the shareholders of the Company. In this regard, we further want to inform that the Bonus Issue has been approved by the Shareholders on December 04, 2022 vide postal ballot and pursuant to Regulation 42 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Friday, December 16, 2022 has been fixed as the ‘Record Date’ by the Management Committee of the Company for the purpose of determining the eligible Shareholders for the issue / allotment of Bonus Equity Shares of the Company."

The shares of CL Educate Ltd closed today at 154.45 apiece, up by 2.08% from the previous close of 151.30. The stock recorded a total volume of 34,661 shares compared to the 20-Day average volume of 41,424 shares. In the last 1 year the stock has gained 29.84% and on a YTD basis, the stock has gained 34.42% so far in 2022. The stock had touched a 52-week-high of 190 on (01-Sep-2022) and a 52-week-low of 97 on (22-Dec-2021), indicating that at the current market price the stock is trading 59.22% above the 1-year low and 18.71% below the 1-year high. For the quarter ended September 2022 or Q2FY23, the company reported a promoter shareholding of 52.50%, FIIs stake of 8.37%, and a public stake of 39.14%.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 05 Dec 2022, 07:42 PM IST
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