Multibagger stock surges 148% in 6 months, Board approves 5:1 bonus shares
Premium- Punit Commercials Ltd. is a small-cap company with a market worth of Rs. 1.23 crore that is engaged in the consumer discretionary industry
Punit Commercials Ltd. is a small-cap company with a market worth of Rs. 1.23 crore that is engaged in the consumer discretionary industry. Diamonds are manufactured, exported, and imported by the firm. If you examine the stock's multibagger gains over the past six months, the company's board of directors' approval of 5:1 bonus shares for eligible shareholders as of the record date is like the frosting on the cake.
The company has said in a stock exchange filing that “With reference to the subject cited, this is to inform the Exchange that at the meeting of the Board of Directors of Punit Commercials Limited (Company) held on Tuesday, October 04, 2022 at 3.00 p.m., considered and approved the following: 1) Increase in the Authorized share capital of the Company from Rs. 25,00,000/- (Rupees Twenty Five Lakhs Only) to Rs. 2,00,00,000 (Rupees Two Crores Only) divided into 20,00,000 (Twenty Lakh) equity shares of Rs. 10/- each and consequential amendment in the Memorandum of Association of the Company, subject to necessary approvals. 2) Issue of fully paid up Bonus equity shares to the shareholders of the Company in the ratio of 5:1 (i.e., five bonus equity shares for every one equity share held) subject to the consent of the members of the Company and the Managing Director of the Company is authorized to fix the Record Date for the purpose of Bonus Issue. 3) Change of name of the Company from “Punit Commercials Limited" to “EYANTRA VENTURES LIMITED" subject to necessary approvals."
The total number of securities proposed to be issued or the total amount for which the securities will be issued are 12,00,000 equity shares of Rs.10/- each fully paid up i.e., for Rs. 1,20,00,000. It is anticipated that these bonus shares would be credited or distributed on or before 03.12.2022.
Pre Bonus (In Rs.)
Authorised: 25,00,000
Paid-up: 24,00,000
Subscribed: 24,00,000
Post Bonus (In Rs.)
MINT PREMIUM See All
Authorised: 2,00,00,000
Paid-up: 1,44,00,000
Subscribed: 1,44,00,000
On October 3rd, Punit Commercials Ltd shares were last traded at a price of ₹51.25 a piece. The stock price climbed from ₹18.25 on August 27, 2018, to the level it is at today, representing a multibagger return of 180.82%. The stock price soared from ₹18.95 on October 6, 2020 to the current market price during the past three years, representing a multibagger return of 170.45%. The stock price has gone up from ₹20.60 as of September 5, 2022, to the current price level on a year-to-date basis, representing a multibagger return of 148.79% so far in 2022. The stock has produced a multibagger return of 126.27% during the past month. For the quarter that ended June 2022, the company recorded a promoter shareholding of 73.74% and a public shareholding of 26.26%.
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