This multibagger stock has updated the record date for the issuance of bonus shares

This multibagger stock has updated the record date for the issuance of bonus shares

Indian Market
by 5paisa Research Team Last Updated: 2022-10-12T18:26:48+05:30

Veeram Securities Ltd's board of directors have changed the record date for the issuance of bonus shares. 

The board of the small-cap firm has changed the record date for the issuing of bonus shares from October 14 to October 15, 2022. One bonus share will be provided to shareholders of the company for every two shares they own of the company, and the bonus shares will be issued on an ex-date basis. The corporation has therefore offered bonus shares in a 1:2 ratio.  

Consequently, with effect from the aforementioned date of October 15, 2022, all transactions involving equity shares of the company will be on an ex-bonus basis. This small-cap stock has been in the base-building mode for the past month. 

However, over the past six months, the price of this stock has increased from roughly Rs 20 to Rs 33 per share, a rise of around 65%. This small-cap business has given its stockholders a return of close to 30% during the past year. But during the past five years, this small-cap company has soared from roughly Rs 6.25 per share to Rs 33 per share, giving its stockholders a return of over 425%. 

With the bonus shares, the shareholders of this stock are in for a festive bonanza. 

The stock had hit the upper circuit of 5% on 6 consecutive sessions taking the share price from Rs 27.30 to Rs 34.75. In today’s session, the stock witnessed profit booking at higher levels shedding some of the gains by closing at Rs 33.05 down 4.89%. 

Veeram Securities is an integrated wholesaler, trader and retailer of branded jewellery and ornaments. It is also in the trading business of silver and distributor of readymade gold and silver jewellery and ornaments. 

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