- The company’s board had approved the issue of bonus shares in the ratio of 2:1 on February 8, 2022.
- As per experts, the price-to-moving averages action, coupled with key momentum oscillators are clearly in favour of the bulls, however, the RSI has entered the overbought territory and quotes above 70 levels.
Many stocks have rallied more than 10% as domestic equity indices, BSE Sensex and NSE Nifty, ended in the green on Thursday. One notable stock, though, is BSE Limited which hit a record high of ₹2848.40 apiece on the National Stock exchange on Friday’s early trade.
Currently, the stock is trading 5.89% higher at ₹2773.70, as compared to its previous close, as against Nifty gained 0.054% today. In the past 10 trading sessions, the stock has rallied 52% as compared to a 2.5% increase in the benchmark index.
Its share price has increased by 35% in the past week, after the company fixed the ex-date as March 21, 2022, and March 22, 2022, as the record date for the purpose of determining the names of shareholders who shall be entitled to allotment of bonus equity shares.
The company’s board had approved the issue of bonus shares in the ratio of 2:1 on February 8, 2022, and eligible shareholders will be entitled to 2 new fully-paid up equity shares of ₹2 each for every 1 fully paid-up equity share that they hold in the company.
In the past six months, the share price of BSE Limited has increased by 125% or ₹1,535 per share, and when we consider the data for one year, the share prices have increased by a whopping 372.44%, giving multibagger returns in one year!
The announcement of bonus shares fueled the buying momentum and the stock jumped by 28% in just the last two trading sessions. As per experts, the price-to-moving averages action, coupled with key momentum oscillators are clearly in favour of the bulls, however, the RSI has entered the overbought territory and quotes above 70 levels.
In the October to December quarter FY22, the company reported an 86% increase in its consolidated net profit, at 58.6 crores. Further, there was a 44% jump in the average daily turnover in the derivatives and currency segments, which rose by 23% and 29% respectively.
Disclaimer
The content in this news article is not investment advice. 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.
