This multibagger stock will issue bonus shares at a 2:1 ratio this week
Free shares are free shares allocated by a company to its shareholders based on the number of shares held by each shareholder. Free shares are issued to shareholders of the company on a record date, which implies that you must hold shares of that company no later than the record date issued by the company’s board of directors. Similar to the dividend issue, there is a bonus announcement date, an ex-bonus date and a record date. Free shares are given away by a company to make it more attractive and inexpensive to investors while limiting cash dividends.
Shareholders looking for shares that may announce free shares should pay attention to the fact that the company White Organic Retail has declared free shares at a ratio of 2:1. The company has set Thursday, April 14, 2022 as the date registration of free share allocations.
The company informed BSE stating that “the Board of Directors has set Thursday, April 14, 2022 (subject to the approval in principle of the Stock Exchange) as the record date for the issuance of free shares in the proportion of 2:1 i.e. 2 (Two) new bonus shares of Rs. 10/- each for 1 (One) existing share of Rs. 10/- each held.”
Over the past year, the share has returned 1,637.76% with the share price rising from Rs 31.65 on April 13, 2021 to Rs 550 on April 11, 2022, 3:29 PM IST on the year BSE to date (YTD) the stock has gained 99.10% and in the previous six months it has climbed 110.77%. The stock fell -16.31% over the past month and rose 1.54% over the previous five days.
White Organic Retail Ltd has a market capitalization of Rs 599.94 Cr. In India, the organization is a leading wholesaler, distributor, supplier and retailer of essential oils and aromatics, grains. In the quarter ended December 2021, sales increased by 268.75% to Rs 60.66 crore from Rs 16.45 crore in the previous quarter ended December 2020 and net profit increased by approximately 983% to Rs 5.20 crore in the quarter ended December 2021 from Rs 0.48. crore in the previous quarter ending December 2020. Adani Enterprises, Redington India, Aegis Logistics, MMTC, Rain Industries, PTC India and Cartrade Tech are the major peers of the company.
For investment-related articles, business news and mutual fund tips