Penny stock declares 1:1 bonus shares and stock split, up 815% from 52-week-low
Global Capital Markets Ltd is a small-cap company registered with RBI as a Non-Banking Financial Company (NBFC) and recorded a market cap of ₹86.38 Cr on Friday. The Company was founded on February 20, 1989 and in 1995, the public issue of Rs.400.00 lacs was made. The Board of Directors of Global Capital Markets in its meeting held on 27th January 2023 (Friday) have declared bonus shares and stock split which can’t be ignored for the stock’s upcoming price performance which is now at its lower circuit level.
Global Capital Markets informed stock exchanges that its Board of Directors have approved “1. To consider Sub-Division of face value of Equity Shares from Rs. 10/- to Rs. 1/-; 2. Increase in Authorized Capital from Rs. 30.00 Crore to Rs. 50.00 Crore. 3. Issue of Bonus Equity Shares of Rs. 1/- each in the ratio of 1:1 (i.e. bonus issue of 1 share for every 1 share held by members as on record date) which will be decided in due course.”
The company has also said in a stock exchange filing that “Board of Directors of the Company will be held on Thursday, February 9, 2023 to consider and approve Un-Audited Financial Results for the 3rd quarter ended on 31st December 2022 for the Financial Year ended on 31st March 2023.”
The shares of Global Capital Markets closed on the BSE on Friday at a lower circuit limit of ₹34.70 apiece, down by 4.93% from the previous close of ₹36.50. The stock recorded a total volume of 37,863 shares compared to the 20-Day average volume of 60,617 shares. The stock price climbed from ₹4.48 to the current market price level over the past five years, resulting in a multibagger return of 674.55%. The stock price soared from ₹0.53 on February 3, 2020 to the current price level over the past three years, resulting in a multibagger return of 6,447.17%.
The stock price rose from ₹5.98 to the present market price level during the course of the past year, posting a multibagger return of 480.27%. The stock price has surged 5.79% on a YTD basis, and during the past six months, it has gone up from Rs. 4.28 to the current market price, representing a multibagger return of 710.75%. The stock has appreciated 11.04% during the past month. The stock touched a 52-week-high of ₹45.00 on (20/12/2022) and a 52-week-low of ₹3.79 on (01/06/2022), indicating that at the current share price, the scrip is trading 22.88% below the 1-year high and 815.56% above the 1 year low. For the quarter ended December 2022 or Q3FY23, the company reported a promoter shareholding of 5.00% and a public stake of 95.00%.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.