Multibagger stock issues bonus shares in 1:2 ratio: Key takeaways to note
1 min read . Updated: 20 Aug 2022, 10:48 PM IST
Premium- With a market capitalization of ₹182.04 crore, Veeram Securities Ltd. is a small-cap company that operates in the consumer discretionary industry.
With a market capitalization of ₹182.04 crore, Veeram Securities Ltd. is a small-cap company that operates in the consumer discretionary industry. The company is a retailer, wholesaler, and trader of jewellery and accessories. Traditional gold and silver jewellery and ornaments from the firm are either crafted with kundan, gem stones, etc., or with simply plain gold or silver. Investors need to be informed that the company's board of directors has issued bonus shares in a 1:2 ratio.
The company has said in a regulatory filing that “The Board decided to issue bonus shares in the ratio of 1:2 i.e. one share for two shares as on the record date decided by board subject to approval of the shareholders in general meeting. The Board authorized Mr. Girdharilal Pamnani to handle all the matters relating to applications and approval from RBI and any other authority for initiating activities as a NBFC and then for acquiring Banking License."
Veeram Securities Ltd.'s shares on the BSE ended on Friday at ₹36.10, down 5.00% from the previous close of ₹5 per share. The stock price climbed from ₹3.93 on January 6, 2017, to the level it is at now, representing a multibagger return and an all-time high of 818.58%. The stock price has risen from ₹5.09 as of August 31, 2017, to its current level during the past five years, representing a multibagger return of 609.23%. The stock price soared from ₹17.71 on August 23, 2021 to the current share price during the past year, representing a multibagger return of 103.84%. On a YTD basis, the stock has gained 84.65% so far in 2022 and in the last 6 months the stock has gained 44.11%. In the last 1 month, the stock has gained 2.41% but in the last 5 trading sessions, the stock has fallen 18.42%. On the BSE, the stock had touched a 52-week-high of ₹57.05 on 04/08/2022 and a 52-week-low of ₹12.80 on 13/05/2022 which indicates that at the current market price of ₹36.10 the stock is trading 36.72% below the 52-week-high and 182% above the 52-week-low.
