This multibagger stock surges ahead of record date for bonus issue
Premium- Ducon Infra has fixed Tuesday, 19th April, 2022, as its record date for the bonus shares issue in the ratio of 1:10
Shares of Ducon Infratechnologies Ltd surged more than 6% in Monday's trading session at ₹28 apiece on the BSE, as the stock turned ex-bonus, a day ahead of its record date on April 19, 2022 for the bonus issue of equity shares in the ratio of 1:10.
Ducon Infratechnologies' board at their meeting held on 25th February, 2022 considered and approved the bonus issue of equity shares in ratio of 1:10. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.
“The Board recommended the Bonus Issue of Equity Shares in the proportion of 1 (One) Equity Share of Re1/- each for every 10 (Ten) Equity Shares of Re 1/- each held by the shareholders of the Company as on the record date, subject to the approval of the shareholders through Postal Ballot," the company had informed in an exchange filing.
Further, the board also approved the reservation of 1 equity share of Re 1/- each for every 10 equity shares of Re 1/- each to be acquired at the time of conversion for the warrant holder whose warrants would be converted. It also approved the increase in authorised share capital of the company and consequent change in capital clause of Memorandum of Association of the company.
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The multibagger stock has rallied more than 307% in a year's period, whereas has surged 117% in the last six months alone. Ducon Infra shares have risen about 27% in 2022 (year-to-date or YTD) so far as compared to over 4% fall in benchmark BSE Sensex.