A bonus issue refers to the allocation of additional shares to existing shareholders at no extra cost, typically based on their current holdings. Companies utilize this method to reward shareholders, enhance liquidity, and reflect financial health, converting retained earnings into share capital instead of distributing cash dividends.
Here are the stocks that are issuing bonuses next week:-
Shakti Pumps (India) Ltd
Shakti Pumps (India) Limited manufactures pumps, motors, and replacement components. The the company offers a range of products, including submersible pumps, solar pumps, vertical multistage centrifugal pumps, monoblock end suction pumps, pressure booster pumps, wastewater pumps, and open well pumps.
With a market capitalization of Rs 9,821.11 crore, the shares closed at Rs 4901.95 per share, increased around 4.15 percent as compared to the previous closing price.
Shakti Pumps (India) Limited considered and approved issuing bonus shares of the company in the ratio of 5:1, where 5 equity shares of the company with a face value of Rs. 10 will be issued to every one equity share held by eligible shareholders as on the record date. The record date of the bonus issue is 25 Nov 2024.
Raghav Productivity Enhancers Ltd
Raghav Productivity Enhancers Limited is engaged in the manufacturing of ramming mass and other quartz-related products. The Company is manufacturing, supplying, and exporting silica (acidic) ramming mass. Ramming mass is used as furnace refractory lining material for steel industries.
With a market capitalization of Rs 3,669.89 crore, the shares closed at Rs 1,598.90 per share, increased around 2.39 percent as compared to the previous closing price.
The company considered and approved issuing bonus shares of the company in the ratio of 1:1, where 1 equity share of the company with a face value of Rs. 10 will be issued to every one equity share held by eligible shareholders as on the record date. The record date of the bonus issue is 29 Nov 2024.
Spright Agro Ltd
Spright Agro Ltd develops agricultural and forest resources-based industries, as well as plants, grows, cultivates, produces, and raises plantations of various agricultural crops, forest, other plantations, horticultural crops, Green House, Net House, medicinal and aromatic plants on their farms.
With a market capitalization of Rs 1,065.61 crore, the shares were trading at Rs 19.89 per share, increased around 2 percent as compared to the previous closing price.
The company considered and approved issuing bonus shares of the company in the ratio of 1:1, where 1 equity share of the company with a face value of Rs.1 will be issued to every one equity share held by eligible shareholders as on the record date. The record date of the bonus issue is 29 Nov 2024.
Written by:- Abhishek Singh
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