Up 242% in 1 month! Realty penny stock to trade ex-bonus tomorrow

Shares of realty developer Jet Infraventure will trade ex-bonus on April 21 (Friday). The company had earlier announced a bonus issue of shares to its investors in the proportion of 1:1.

This means, for every share existing investors hold, shareholders will be credited an additional equity share. The company said bonus shares would be credited within two months from the Board's approval on 9 May.

The company has fixed April 21 as the record date to ascertain the eligibility of shareholders entitled to the issuance of bonus equity shares.

A company issues bonus shares for its shareholders to increase the liquidity of the stock as well as to decrease its stock price to make it affordable for investors.

Bonus shares are fully paid additional shares issued by a company to its existing shareholders. When a firm issues bonus shares, its shareholders do not have to incur any extra costs to get them. The number of bonus shares you receive depends on the number of shares of the firm you already hold.

All shareholders who own shares of the firm before the ex-date, which is determined by the firm, are eligible for additional shares.

On Thursday, Jet Infraventures shares closed nearly 5% lower at Rs 44.32 apiece on NSE. In the last year, the shares have given a return of 42%.

However, it has had a stellar run in the last month period, rising 242% in the last month.

Jet Infraventures is a real estate developer engaged in residential and commercial projects. The company mainly operates in the two states of Maharashtra and Gujarat.

Apart from the bonus issue, the company has also increased its authorised share capital from Rs 3 crore to Rs 5.5 crore.