Home / Markets / Stock Markets /  Multibagger smallcap stock to consider bonus issue today, shares hit record high

Shares of SecMark Consultancy Ltd rallied nearly 9% to hit a record high level of 227 apiece on the BSE in Tuesday's early deals ahead of the company's board's decision to consider the issue of bonus equity shares. The smallcap stock has jumped about 56% in the last five trading sessions on bonus issue proposal.

Last week, the company informed in an exchange filing that "the meeting of the Board of Directors of the company is scheduled to be held on Tuesday, August 23, 2022, inter alia, to transact the following business: 1. To recommend and approve issue of bonus shares to the equity shareholders of the company." Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

Further, the board will also consider to approve the proposal of Migration of Company from SME platform of BSE Limited to Main Board of BSE Limited as well as listing on the Main Board of National Stock Exchange of India Limited; and any other business with the permission of the Chair, it added.

Headquartered in Mumbai, India, SecMark Consultancy is engaged in consulting, technology and outsourcing services to financial market participants and has specialists in Compliance, Operations, Risk Management, Software Development, IT Infrastructure Management, System Audits & Cyber Security. The company's clients include more than 200 leading financial market participants.

SecMark Consultancy shares have given multibagger return of more than 106% in a year's period, whereas the multibagger stock has surged nearly 71% in 2022 (YTD) so far as compared to about a per cent fall in benchmark BSE Sensex.

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