Small-cap financial stock hits upper circuit on four days in a row after 2:1 bonus share announcement
1 min read 29 Sep 2022, 10:20 AM ISTSmall-cap financial stock has been hitting upper circuit for last four days in a row after the announcement of bonus shares on Monday
PremiumBonus shares 2022: The board of directors of Pro Fin Capital Services Ltd has recommended issuance of bonus shares to its shareholders. The financial company's board has recommended bonus shares in the ratio of 2:1 that means one bonus shares will be given to the shareholders for having one equity share of the company in its stock portfolio.
The small-cap financial company informed stock market exchange about the bonus share issue citing, "Pursuant to Regulation 30 & 33 of the SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company at their meeting held today i.e. 08.09.2022, have inter-alia, Recommended the Bonus Issue of Equity shares in the proportion of 2(Two) Equity shares of Rs. 1/- each for every 1 (one) Equity share of Rs. 1/- each to the holders of the Equity Shares of the Company issued by way of preferential issue on May 06, 2022, subject to the approval of shareholders i.e. in compliance with the applicable laws."
Bonus share record date will be decided later and the financial company informed exchanges that it would informed about the same as and when it is decided by the company's board members and shareholders.
“In this respect the record date shall be decided by the board and will be intimated to exchange," the small-cap company informed in its exchange filing.
The announcement of bonus share issue was done on 26th September and since then this small-cap stock has been hitting upper circuit. It has locked-in upper circuit on all four sessions including the date of bonus share announcement.
This BSE listed penny stock has a market cap of 38 crore and its trade volume today after around one hour of market opening is around 16.87 lakh whereas its average trade volume for the last 20 sessions is 31.78 lakh. So, in just one hour of market opening, the volume of trade is already more than 50 per cent of its last 20 days average trade volume.
