Bonus shares are extra shares depending on the number of shares owned by a shareholder that are given to them without charging any additional costs. These are the accumulated earnings of the company, which are converted into free shares rather than being paid out as dividends.
The Board of the following PSU stocks has scheduled a meeting to consider and approve bonus shares.
Bharat Petroleum Corporation Limited
With a market cap of Rs. 1.31 lakh crore, the share price of Bharat Petroleum Corporation Limited (BPCL) moved up by 3.02 percent on BSE to hit an intraday high of Rs. 628.5 in the trading session of Tuesday, compared to its previous closing price of Rs. 610.05.
According to the recent regulatory filings on the stock exchanges, the meeting of the company’s Board is scheduled on 9th May to consider and approve the issue of Bonus Shares.
Further, the Board will also consider the financial results for the quarter and financial year ended 31st March 2024 as well as recommendation of final dividend, if any, for FY23-24, in the aforesaid meeting.
The stock has delivered positive returns of nearly 65.7 percent in the last one year and around 63.5 percent in the last six months. So far in 2024, the company has given about 34.8 percent positive returns.
In terms of financials, the company’s revenue from operations grew by 11.4 percent from Rs. 1,16,657 crore in Q2 FY23-24 to Rs. 1,29,984 crore in Q3 FY23-24. However, the net profit declined by 61.4 percent from Rs. 8,243.55 crore in Q2 FY23-24 to Rs. 3,181.42 crore in Q3 FY23-24.
Incorporated in 1952, Bharat Petroleum Corporation Limited is engaged in the business of refining of crude oil and marketing of petroleum products.
The marketing infrastructure of the company includes a vast network of installations, depots, retail outlets, aviation fuelling stations and LPG distributors.
Hindustan Petroleum Corporation Limited
With a market cap of Rs. 73,168.7 crore, the share price of Hindustan Petroleum Corporation Limited (HPCL) moved up by 4.05 percent on BSE to hit an intraday high of Rs. 534.5 in the trading session of Tuesday, compared to its previous closing price of Rs. 513.65.
According to the recent regulatory filings on the stock exchanges, the meeting of the company’s Board is scheduled on 9th May to consider a proposal for the recommendation of Bonus Equity Share subject to the approval of Members of the company including fixation of Record Date for the said Bonus Issue.
Further, the Board will also consider the financial results for the quarter and financial year ended 31st March 2024 as well as the recommendation of final equity dividend, if any, for FY23-24, in the aforesaid meeting.
The stock has delivered nearly 104 percent of multibagger returns in the last one year and around 85.6 percent of positive returns in the last six months. So far in 2024, the company has given about 29.4 percent of positive returns.
In terms of financials, the company’s revenue from operations grew by 15.4 percent from Rs. 1,02,288 crore in Q2 FY23-24 to Rs. 1,18,027 crore in Q3 FY23-24. However, the net profit declined by 87.8 percent from Rs. 712.84 crore in Q2 FY23-24 to Rs. 712.84 crore in Q3 FY23-24.
Incorporated in 1952, Hindustan Petroleum Corporation Limited is engaged primarily in the business of refining of crude oil and marketing of petroleum products.
Written by Shivani Singh
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