This Penny Stock's Board Approved 3:10 Bonus Shares: Do You Have It?

 This Penny Stock's Board Approved 3:10 Bonus Shares: Do You Have It?

Shares of Veer Energy & Infrastructure Ltd closed at ₹15.90 on Friday, down 12.64% from its previous close of ₹18.20.

• Veer Energy & Infrastructure Limited is a small-cap company operating in the power sector with a market valuation of ₹18.30 crore

Veer Energy & Infrastructure Limited is a small-cap company operating in the power sector with a market valuation of ₹18.30 crore. The company is a top provider of renewable energy in India and has expertise in providing services across the country. The Board of Directors of the Company considered and authorized 3:10 Bonus Shares.

The company in a stock exchange filing said that "In accordance with Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions, if any, we would like to inform you that the meeting of the Board of Directors of Veer Energy and Infrastructure Limited held today

That is, on Thursday, October 13, 2022, 629-A Gajdar House, 151 Floor, J.S.S. Marg, Near Kalbadevi Post Office, Mumbai- 400002, inter alia, the following businesses have been considered and approved: 1. Increase in Authorized Share Capital from Rs. 15 crores to Rs. 20 crore in the Memorandum of Association and consequent changes; 2. Issue of bonus equity shares in the ratio of 3:10 i.e. 3 fully paid-up equity shares for every 10 fully paid-up equity shares held and fixing the record date for the purpose of bonus issue; 3. The Board has decided to hold an Extraordinary General Meeting (EGM) of the Company on Tuesday, the 15th November, 2022 at 10.30 AM. At 6, New Nandu Industrial Estate, Mahakali Caves Road, Andheri (E), Mumbai- 400093. 4. Mr. V Jai Tiwari, Practicing Company Secretary, Owner of V Jai S Tiwari & Associates, has been appointed as Scrutiny for Remote E. Vote in a fair and transparent manner."

Veer Energy & Infrastructure Ltd shares closed at ₹15.90 on Friday, down 12.64% from its previous close of ₹18.20. In its previous trading session, the stock recorded a total volume of 384,554 shares as compared to the 20-day average volume of 171,461 shares. The share price rose from ₹0.69 to the current market price on 16 January 2004, representing an 18-year multibagger return of 2,204.35%. The stock has fallen 42.50% in the last five years while it has gained 74.15% in the last three years.

The stock has gained 15.89% over the last year, and on a year-over-year basis, has appreciated by 3.72% in 2022. On BSE, the stock had touched a 52-week high of ₹20.50 (04/10/2022) and a 52-week-low of 9.93 on (08/03/2022), indicating that at the current market price The stock is trading up 22.43% from the high and 60.12% from the low. For the quarter ended June 2022, the company recorded promoter's stake at 30.75%, FII's 0.39% and public stake 68.86%.