Stock below ₹100 declares 24:100 bonus shares, scrip rallies 480% in 1 year
Small-cap firm Growington Ventures India Limited operates in the commercial services industry and has a market capitalization of ₹96.41 Cr. The company is involved in the import and export of fruits. The Board of Directors has approved the issuing of bonus shares in a 24:100 ratio, the company said on Friday.
Growington Ventures India said in a stock exchange filing that the Board of Directors has approved “1. Increase in existing authorized share capital of the Company from Rs. 13,20,00,000/- (Rupees Thirteen Crores Twenty Lacs only) divided into 1,32,00,000 (One Crores Thirty Two Lacs) Equity Shares of Rs.10/- (Rupees Ten only) each to Rs.16,20,00,000/- (Rupees Sixteen Crores Twenty Lacs only) divided into 1,62,00,000 (One Crores Sixty Two Lacs) Equity Shares of Rs. 10/- (Rupees Ten only) each and subsequent alteration to the Memorandum of Association of the Company, subject to shareholder’s approval; 2. Issuance of fully paid -up Bonus Shares in the ratio of Twenty Four (24) Fully paid – up share for every Hundred (100) fully paid -up shares held, subject to shareholder’s approval.”
Free reserves and/ or share premium required for implementing the bonus issue is Rs. 3,07,68,960 and the estimated date by which such bonus shares would be credited/dispatched is 28thMarch, 2023, according to Growington Ventures India.
On Friday, the shares of Growington Ventures India closed on the BSE at ₹75.20 apiece after hitting a fresh 52-week-high of ₹82.90, up by 0.40% from the previous close of ₹74.90. The stock recorded a volume average of 65,000 shares and a deliverable volume average of 45,000 shares, whereas the deliverable quantity to traded quantity reached 69.23%.
The stock price soared from ₹14 to the current market price during the past five years, resulting in a multibagger return of 448.91%. The stock price climbed from ₹29.60 to the current market price during the past three years, resulting in a multibagger return of 154.92%. The stock price grew from ₹12.90 to the current market price over the past year, resulting in a multibagger return of 482.95%.
The stock has appreciated by 11.76% YTD so far in 2023 and by 28.18% over the past six months. The stock touched a 52-week-low of ₹11.24 on (16/03/2022), indicating that after hitting a fresh 1-year high on Friday, the stock was seen trading 569.03% above the 1-year low. Growington Ventures India recorded a promoter shareholding of 43.12% and a public stake of 56.88%.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.