The shares of this leading manufacturer of handmade carpets and readymade garments gained up to 5.3 percent after the board approved for issue of Bonus Shares in the ratio of 1:2.
With a market capitalization of Rs 671.96 Crores. SBC Exports Ltd, On Wednesday, The shares were trading at Rs 31.75 a share, a decrease of 0.16 percent from the previous closing price.
As stated in the exchange filing, the Board of Directors of SBC Exports Ltd. has recommended, reviewed, and approved the issuance of Bonus Shares at a ratio of 1:2, or one Equity Share for every two Equity Shares held by the Company’s current Equity Shareholder as of the Record Date, which will be fixed in the interim. The bonus equity share issue is contingent upon the shareholders’ approval via postal ballot.
In addition to the above paragraph, to approve the notice for the aforementioned agenda item and conduct a postal ballot for shareholders’ approval through an electronic voting facility.
Once awarded, the Bonus shares will rank pari-passu, have all the rights of the existing Equity Shares, and be eligible to fully participate in any dividend and other corporate action.
To approve the notice for the aforementioned agenda item and to conduct a postal ballot for shareholders’ approval through an electronic voting facility.
Looking into the company’s performance, SBC Exports Ltd’s revenue decreased by 12.16 percent from Rs 35.27 Crore in Q2FY23 to Rs 30.98 Crore in Q2FY24. During the same period, net profit increased by 35 percent from Rs 1.58 crore to Rs 2.14 crore.
SBC Exports Ltd. is a company that offers tour operator services, manpower supply services, and clothing manufacturing and trading.
Written by:- Abhishek Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
