Multibagger stock jumps for second day after bonus shares issue
Premium- Ducon Infratechnologies had fixed Tuesday, 19th April, 2022, as record date for the bonus shares issue
Shares of Ducon Infratechnologies Ltd continue to surge for the second straight session after its bonus shares issue as it was trading over 10% higher at ₹30 apiece on the BSE in Tuesday's early deals. The stock turned ex-bonus on Monday, 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.
The multibagger stock has rallied more than 300% in a year's period, whereas has surged 120% in the last six months alone. Ducon Infra shares have risen about 30% in 2022 (year-to-date or YTD) so far as compared to over 4% fall in benchmark BSE Sensex.
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Ducon Infratechnologies is a fossil fuel technology company and has diversified technologies and provides solutions in the infrastructure, FGD systems and material handling sectors. In the infrastructure sector, Ducon provides FGD systems in thermal power plants, bulk material handling systems for Alumina, fly ash handling systems and electrification projects.