Puneet Commercials Limited is a small-cap company with a market value of Rs. 1.23 crore which is engaged in 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 to eligible shareholders as on the record date is like frosting on the cake.
The company in a stock exchange filing said that “with reference to the subject matter cited, this is to inform the Exchange that the meeting of the Board of Directors of Puneet Commercials Limited (Company) was held on Tuesday, the 04th October, 2022 at 3.00 pm, at the following Considered and Approved: 1) Increase in the authorized share capital of the Company from Rs.25,00,000/- (Rupees Twenty Five Lakh only) to Rs.2,00,00,000 (Rupees Two Crore only) to Rs.20,00,000 (Twenty 10/- each and consequential amendment to the Memorandum of Association of the company, subject to necessary approvals. 2) Full paid bonus in the ratio of 5:1 to the shareholders of the company subject to the concurrence of the members of the company and the Management Issuance of Equity Shares (i.e. five Bonus Equity Shares for every one Equity Share) The Directors of the Company have the right to fix the record date for the purpose of issue of Bonus. 3) The name of the Company as “Puneet Commercials Limited” subject to necessary approvals Changes to “EYANTRA VENTURES LIMITED”.
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 will be credited or distributed on or before 03.12.2022.
Ex Bonus (in Rs.)
Authorized: 25,00,000
Paid-up: 24,00,000
Subscribed: 24,00,000
Post Bonus (in Rs.)
Authorized: 2,00,000,000
Paid-up: 1,44,00,000
Subscribed: 1,44,00,000
On 3 October, the shares of Puneet Commercials Ltd were last traded at the price of 51.25 a piece. share price climbed 18.25 on 27 Aug 2018, at today’s levels, represents a multibagger return of 180.82%. share price increased 18.95 at the current market price during the last three years as on October 6, 2020, represents a multibagger return of 170.45%. share price has gone up 20.60 represents a multibagger return of 48.79% versus 48.79% on a year-on-year basis at the current price level, as of September 5, 2022. For the quarter ended June 2022, the company recorded promoter shareholding of 73.74% and public shareholding of 26.26%.
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