With a market capitalization of Rs 900 crores, the shares of Kamdhenu Ventures Limited zoomed around 10 percent closing today at Rs 282.20. The scrip hit its all-time high at a price of Rs 286. In the last one month period, the stocks have gained more than 30 percent ranging from Rs 212.70 to the current price levels.
One of the probable reasons for the stock prices to surge is the recent regulatory filing published with the Bombay Stock Exchange (BSE) dated 28th June 2023 that informed about the company’s Board recommending a Bonus Issue in the ratio of 1:1.
It means that one Bonus equity share of Rs 5 each will be issued for one existing equity share of Rs 5 each held by the shareholder. The record date for the purpose of determining the eligibility of the shareholders is yet to be decided.
The process of Bonus Issue is said to be completed within a period of two months from the date of Board meeting, i.e., 28th June 2023.
The latest consolidated data as of Q4FY22-23 portray an operating revenue of Rs 70 crores as compared to Rs 69 crores of revenues in the previous quarter. Moreover, the company has been successful in lowering the losses from Rs 3 crores to Rs 2 crores during the same time period.
The shareholding pattern data available as per the March 2023 quarter shows that the Promoters hold a 58.74 percent stake, and Foreign Institutional Investors (FIIs) hold a 0.31 percent stake in the company.
Founded in 2008, Kamdhenu Paints is engaged in the business of providing ‘Decorative Paint’ solutions that envisage Interior as well as Exterior Emulsions. The company’s product portfolio includes water-based primers, wood finishes, acrylic distempers, etc.
Written by Amit Madnani
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