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Business News/ Markets / Stock Markets/  Small-cap stock below 100 to consider issuance of bonus shares, stock split. Share jumps 10%

Small-cap stock below ₹100 to consider issuance of bonus shares, stock split. Share jumps 10%

Small-cap stock below ₹100: Board of directors of the company is goin to consider and approve proposal for bonus share and stock split in its meeting scheduled on 2nd August 2023

Small-cap stock below ₹100 has been on an uptrend, surging from ₹72 to ₹88 in the last month. (iStock)Premium
Small-cap stock below 100 has been on an uptrend, surging from 72 to 88 in the last month. (iStock)

Small-cap stock below 100: Sarveshwar Foods shares are one of those small-cap stock that has been in uptrend for the last one month. In this time, this small-cap stock with a market cap of around 265 crore has surged from around 72 to 88 apiece levels, delivering to the tune of 20 per cent return to its positional shareholders. however, in last one week, this small-cap stock has risen around 25 per cent. But, the board of directors of this FMCG company has one more stock market news. The company is going to consider stock split and issuance of bonus shares in is upcoming board meeting scheduled on 2nd August 2023.

Bonus shares, stock split details

Sarveshwar Foods Ltd informed Indian stock market exchanges about the bonus share and stock split proposal citing, "In terms of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, August 02, 2023, inter-alia, to consider and approve the followings items: 1] The proposal for sub-division/split of Equity Shares of the Company having a face value of Rs. 10/- each in such manner as the Board may determine. 2] The proposal of issuance of Bonus shares to the security holders of the Company."

Apart from issuance of bonus shares and stock split proposal, small-cap company's board of directors are going to consider and approve the proposal for increase in the Authorised Share Capital of the Company as well.

The small-cap stock is available for trade on both BSE and NSE. Its current trade volume on NSE is 2,89,592 and around three hours of trade is still left in Friday session. Its current trade volume is much higher than its last 2- sessions average trade volume of 39,145. The small-cap has a market cap of 265 crore and its 52-wek high on NSE is 95.75 apiece. On NSE, the small-cap stock below 100 has made 52-week low of 43.45 per share.

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

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 21 Jul 2023, 01:06 PM IST
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