Home / Markets / Stock Markets /  Multibagger stock on 5% upper circuit, announces record date for 1:2 bonus share

With a market capitalization of Rs. 144.47 crore, Veeram Securities Ltd. is a small-cap company that operates in the consumer discretionary industry. Incorporated as a wholesaler, retailer, and trader of premium jewellery and ornaments, Veeram Ornaments Limited is an Indian corporation. The traditional gold and silver jewellery and decorations that the company produces are either made of pure gold or silver or with materials like kundan, gem stones, etc. The company's Board of Directors has disclosed the record date in order to ascertain if shareholders are eligible to receive 1:2 bonus shares.

The company has said in a stock exchange filing that “Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we wish to inform you that the company has fixed Friday, 14 October, 2022 as the “Record Date" for determining the eligibility of members for the purpose of Bonus Issue of the equity shares of the company for face value of Rs.10 /- each subject to in-principal approval of BSE Limited."

The bonus issue of shares is in the ratio of 1:2, meaning that each eligible shareholder as of the above-mentioned record date will get 1 bonus share for every 2 shares they own. The shares of Veeram Securities Ltd closed on Tuesday at an upper circuit level of 28.65 apiece, up by 4.95% from the previous close of 27.30. The stock saw a total volume of 722,999 shares traded on Tuesday. The stock's return is at an all-time high of 629.01%. The stock price climbed from 6.24 on November 10, 2017, to its present level during the past five years, resulting in a multibagger return of 359.13% and an approximate CAGR of 36.08%. The stock price jumped from 3.29 on November 6, 2019, to the current market price during the past three years, resulting in a multibagger return of 823.43% and an approximate CAGR of 110.55%. 

In the last 1 year, the stock has gained 9.14% and on a YTD basis, the stock has gained 46.55% so far in 2022. The stock had made a 52-week-high of 57.05 on (04/08/2022) and a 52-week-low of 12.80 on (13/05/2022), indicating that at the current price level the stock is trading 49.78% below the high and 123.82% above the low. For the quarter ended June 2022, the company recorded a promoter shareholding of 53.42%, FIIs holding of 0.50% (up by 0.50% QoQ), and public shareholding of 46.08% (down by 0.50% QoQ).


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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