Home / Markets / Stock Markets /  Multibagger stock rallies to record high on bonus shares issue announcement

Shares of SecMark Consultancy Ltd rallied as much as 10% to hit a new high of 250 apiece on the BSE in Tuesday's opening deals after its board approved the issue of bonus equity shares in the ratio of 3:2, subject to the approval of the shareholders. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

“We hereby inform you that the Board of Directors at their Meeting held today i.e. August 23, 2022 has, inter alia considered and approved the issue of bonus shares in the ratio 3 (three) fully paid-up equity shares for every 2 (two) existing full paid-up equity share held by the shareholders, subject to the approval of the shareholders of the company," it announced in an exchange filing on Monday.

Further, the board also approved migration of Listing/Trading of company’s present listing from SME Platform of BSE Limited to the Main Board of BSE Limited as well Listing/Trading on Main Board of National Stock Exchange of India Limited subject to approval of the shareholders of the Company, BSE Limited, National Stock Exchange Limited, or such other authorities.

Meanwhile, the board also considered and approved to amend the Memorandum of Association of the company due to changes in authorized share capital of the company, subject to approval of the members of the company.

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 136% in a year's period, whereas the multibagger stock has surged nearly 86% in 2022 (YTD) so far as compared to about a 0.5% fall in benchmark BSE Sensex.

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