2 bonus shares and 1 stock split to watch next week
The shareholders of Varun Beverages and NINtec SYSTEMS should watch the stocks next week as both scripts are going to turn ex-bonus while G G Engineering shareholders should be aware of a stock split that will take place next week. These three corporate actions are signalling how the stocks will react in the second week of June.
The company has authorised bonus shares in a 1:2 ratio, with the record date set for 07-06-2022 and the stock trading ex-bonus on 06-06-2022. The company has said in a BSE exchange filing that “This is to inform you that pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors fixed Tuesday, June 7, 2022 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) Equity Share of Rs. 10/- each for every 2 (Two) existing Equity Shares of Rs. 10/- each, subject to the approval of shareholders which is being obtained through Postal Ballot.”
The stock at a market price of ₹1,115.75 is moving with an upside gap of 0.60% today and Varun Beverages is trading stronger than 5 days, 20 days, 50 days, 100 days and 200 days moving averages.
A bonus share in the ratio of 1:2 has been approved by the corporation. The record date has been set for June 7, 2022, and the stock will become ex-bonus on June 6, 2022. In BSE exchange filing the company has said “In appreciation of continuing support from Shareholders of the Company, the Board of Directors at its meeting held on 21st April, 2022, subject to consent of the Members of the Company, approved and recommended issue of Bonus Equity Shares of face value of Rs. 10/- (Rupee Ten only) each, credited as fully paid-up equity shares to eligible members of the Company in the proportion of 1 (One) new fully paid-up equity share of face value of Rs. 10/- (Rupee Ten only) each for every 2 (Two) existing fully paid-up equity share of face value of Rs. 10/- (Rupee Ten only) each held by the members of the Company, by capitalizing a sum of Rs. 3,44,00,000/- (Rupees Three Crore Forty-Four Lakh Only) out of Free Reserves of the Company.”
The stock is currently trading at ₹46.35, up 4.98 per cent from its previous close. The stock has increased by 21% during the last week.
G G Engineering
The company has fixed Thursday, June 9, 2022 as the record date for the purpose of subdivision of the nominal value of equity share of the Company from Rs. 2/-(Rupees Two) to Re. 1/- (Rupee One) per share. This penny stock has lost 75.68 per cent in a year, and the stock has lost 57.53 per cent year-to-date (YTD) in 2022. In the previous six months, the stock has fallen 66.35 per cent, and in the last month, it has dropped 1.12 per cent. At the current market price of ₹5.30 the stock is moving in an upside gap of 5.58% today and the stock is now trading higher than 5 day and 20-day moving averages but lower than 50 days, 100 days and 200 day moving averages.