Sakuma Exports shares hit 52-week high as company sets board meeting date to consider bonus shares

  • Bonus shares 2024: Sakuma Exports share price today opened with an upside gap and touched an intraday high of 38.45 apiece on NSE

Asit Manohar
Updated19 Jun 2024, 03:17 PM IST
Sakuma Exports bonus shares: The capital reserves of the company allows it to declare up to 20 bonus shares for every one share held by its eligible shareholders.
Sakuma Exports bonus shares: The capital reserves of the company allows it to declare up to 20 bonus shares for every one share held by its eligible shareholders.(Photo: iStock)

Bonus shares 2024: Sakuma Exports share price witnessed strong buying in the early morning session on Wednesday. The small-cap stock was in the news for the issuance of bonus shares. The company's board of directors has set a meeting date on 1st July 2024 to consider and approve the bonus shares proposal. The small-cap company informed us about the development in an exchange filing on Wednesday. After announcing the bonus share proposal and board meeting date to consider the proposal, Sakuma Exports' share price reached an intraday high of 38.45 apiece on NSE, which turned out to be its new 52-week high.

Sakuma Exports bonus shares details

Sakuma Exports declared the board meeting date to consider the proposal for the issuance of bonus shares, saying, "Concerning above and pursuant to Regulation 29 of the SEBI (LODR) Regulations, 2015, Intimation is hereby given that the Meeting of the Board of Directors of the Company is scheduled to be held on Monday, 01st July, 2024 at 12:00 Noon at the Registered Office of the Company, inter-alia to consider and approve the following: 1] The proposal for issue of bonus shares to the equity shareholders of the company to further reward their trust and investment in the company. 2] To consider any other business with the permission of the Chair."

India's sugar exporter company, Sakuma Exports, boasts a massive surplus reserve of 700 crores, a testament to its strong financial health and stability. This surplus reserve enables the company to reward its equity shareholders with a maximum of 20 bonus shares for every 1 share held, further demonstrating its dedication to sharing its success with its investors. This significant allocation underscores the company's strong financial health and its dedication to sharing its success with its investors.

The company's strategic expansion into the international market is further emphasized with the upcoming launch of its ethanol production plant in the United Kingdom. This expansion is expected to significantly increase the company's revenue and profit, with SAKUMA Exports UK projected to generate a revenue of Rs. 400 to Rs. 500 crores every month, with a profit margin of 1.75%. This new venture not only enhances the company's global footprint but also positions it to capitalize on the growing demand for ethanol in Europe, potentially leading to a substantial increase in the company's value and, consequently, the value of investors' shares.

The company's recent announcements, including issuing bonus shares and launching its UK ethanol plant, underscore its commitment to growth and value creation. Investors can look forward to substantial returns as SAKUMA continues to leverage its strengths and capitalize on emerging opportunities in the global market.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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News in Numbers

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₹588.25 Cr

₹20,000 Cr

7.93 Cr

₹8,943 Cr

20 Yrs

First Published:19 Jun 2024, 03:17 PM IST
HomeMarketsStock MarketsSakuma Exports shares hit 52-week high as company sets board meeting date to consider bonus shares

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