Multibagger stock up 148% in 6 months, board approves 5:1 bonus shares

 Multibagger stock up 148% in 6 months, board approves 5:1 bonus shares

On 3 October, Puneet Commercials Ltd shares were last traded at ₹51.25 per piece.

• Puneet Commercials Limited is a small-cap company with a market value of Rs. 1.23 crores engaged in consumer discretionary industry

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 p.m., 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) 20,00,000 (Twenty Lakh) divided into

Equity shares of Rs. 10/- each and consequent amendment in the Memorandum of Association of the company, subject to necessary approvals. 2) Issuance of fully paid-up bonus equity shares in the ratio of 5:1 (ie five bonus equity shares for every one equity share) to the shareholders of the company subject to the concurrence of the members of the company and the management for the purpose of issuing bonus to the directors of the company. reserves the right to fix the record date. 3) Change in Company name from "PUNEET COMMERCIALS LTD" to "EYANTRA VENTURES LIMITED" subject to necessary approvals.

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, Puneet Commercials Ltd shares were last traded at ₹51.25 per piece. The stock price climbed from ₹18.25 on August 27, 2018 to today's level, representing a multibagger return of 180.82%. The stock price rose from ₹18.95 on October 6, 2020 to the current market price during the last three years, representing a multibagger return of 170.45%.

The stock price has risen from ₹20.60 as on September 5, 2022 to the current price level on a year-on-year basis, representing a multibagger return of 148.79% so far in 2022. The stock has produced a multibagger return. 126.27% during the last month. For the quarter ended June 2022, the company recorded promoter shareholding of 73.74% and public shareholding of 26.26%.