The issue of a bonus share is a declaration of additional or free shares to the existing shareholders of a company that is distributed with its shareholders as a part of its earnings, instead of paying dividends. For example, if the ratio of bonus shares is 5:1, then the eligible shareholders whose names appear in the Book of Records of the company on the record date will get 5 additional shares for every 1 equity share as on the record date. TURN makes your total number of shares 6 instead of 1. The ex-date is one day before the record date, which is a cut-off date set by the firm, and shareholders must hold shares of the company on this day to be eligible. For bonus shares. To get the shares credited in their demat account before the record day and be eligible for bonus shares, investors need to buy the stock 1 day before the record date as India adopts T+1 settlement cycle. Therefore, the two stocks Nykaa and Punit Commercials will trade ex-bonus next week at a bonus ratio of 5:1, which traders should be aware of.
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The bonus issue of equity shares in the ratio of 5:1 was approved by the Board in its meeting on October 3, 2022. and for the purpose of determining the eligible shareholders for the bonus equity shares, the Board of the Company has prescribed the record date. For Friday, November 11, 2022. As a result, the stock will trade ex-bonus on November 10, according to BSE. The company’s shares went public on BSE and NSE stock exchanges in November last year. Nykaa shares fell 1.70% on Friday and ended the session 1,108.95 each. During its last trading session, the stock recorded a total volume of 1,145,402 shares as compared to the 20-day average volume of 1,995,142 shares.
Puneet Commercials
The consumer discretionary sector is where Puneet Commercials Ltd., a small-cap company with a market valuation of Rs. 1.23 crore, powered. The company produces and sells diamond products. The Board of Directors of Puneet Commercials Limited in its meeting held on 4 October 2022 considered issue of Bonus Shares in the ratio of 5:1. The record date for determining shareholder eligibility and the right to receive bonus shares has been set as Wednesday, November 9, 2022. According to the information of BSE, the shares of Puneet Commercials will start ex-bonus trading from November 9, 2022.
The total amount of securities offered to be issued as bonus shares will be 12,00,000 fully paid-up equity shares of Rs. 10 each, or Rs. 1,20,00,000. The allotment or credit of these bonus shares is expected to commence on or before 03.12.2022. On October 10, 2022, the share of Puneet Commercials reached the closing price of Rs. 51.25 a piece. For the quarter ended June 2022, the corporation reported promoter stake of 73.74% and public stake of 26.26%.
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