1:1 bonus shares again after 1:5 bonus shares 2 months ago & Promoters bought 50,00,000 shares: Penny stock under Rs 20; Check record date inside!
The stock is up by 54 per cent from its 52-week low is Rs 10.08 per share.
On Thursday, shares of PVV Infra Ltd gained 2.58 per cent to Rs 15.50 per share from its previous closing of Rs 15.11 with an intraday high of Rs 15.75 and an intraday low of Rs 14.36. The stock’s 52-week high is Rs 35.82 and its 52-week low is Rs 10.08.
PVV Infra Limited has announced a 1:1 bonus issue of shares. This means shareholders will receive one new share for every share they hold. The company's board recommended this bonus issue in July, which was subsequently approved by shareholders at the Annual General Meeting. Tuesday, August 20th, has been set as the record date to determine shareholders eligible for the bonus shares.
PVV Infra Limited, a multifaceted infrastructure company with expertise in engineering, design, planning, and construction, has expanded its portfolio to include electric vehicle (EV) charging stations across India. This decision, driven by the growing demand for EV infrastructure, the potential for new revenue streams, and environmental benefits, aligns with the company's commitment to sustainability. The plan involves leveraging existing partnerships with industry experts to identify strategic locations like petrol pumps for station installation.
In its Quarterly Results, the company reported net sales of Rs 12.15 crore in Q4FY24 compared to net sales of Rs 20.17 crore in Q4FY23. The company reported a turnaround net profit of Rs 1.83 crore in Q4FY24 compared to a net loss of Rs 0.76 crore in Q4FY23, an increase of 340 per cent.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
According to its annual results, the net sales increased by 133.7 per cent to Rs 87.92 crore and net profit increased by 15,350 per cent to Rs 3.09 crore in FY24 compared to FY23.
Furthermore, the shares of the company ex-traded bonus shares in the ratio of 1:5 for the first time. Issue of 1 bonus share for every 5 equity shares held by the equity shareholders of the company as of 'Record Date which was Friday, June 21, 2024. The promoters of the company bought 50,00,000 shares and increased their stake to 26.65 per cent in June 2024 compared to June 2023.
The company has a market cap of Rs 44.60 crore. The stock is up by 54 per cent from its 52-week low is Rs 10.08 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: Penny Stocks from the 2007-2008 Stock Market Crisis; Set to Announce Bonus Shares: Would you benefit?