1:1 Bonus Share: This Penny Stock Experiences a 4.41 per cent Surge Amidst Record Date for Bonus Shares
The company sees a 4.41 per cent price increase as it announces a 1:1 bonus issue.
Sprayking Ltd trading at Rs 37.44, up by 4.41 per cent from the previous close of Rs 35.86. The stock opened at Rs 37.46, reached a high of Rs 39.70, and fell to a low of Rs 36.40 during the session. The VWAP was Rs 38.38. Over the past year, the stock's highest price was Rs 60.04 and the lowest was Rs 34.00. On the weekly chart, the stock is currently trading near the support zone indicated on the chart.
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Spryaking Ltd has fixed Wednesday, August 14, 2024 as the record date for the purpose of determining the members, eligible for issuance of bonus shares in the proportion of 1:1 that is 1 (one) new fully paid-up equity shares for every 1 (one) existing fully paid up equity share held as approved by the shareholders.
Earlier, the Company had successfully completed its first three months of production at the new manufacturing facility utilizing Recycled waste copper alloy scrap. In this facility company manufactures copper alloy components from recycled waste copper alloy scrap.
In the Quarterly Results of Q4FY24, the company's revenue was Rs 20.17 crore, a 154.35 per cent increase compared to March 2023 but a 38.22 per cent decrease from December 2023. Net profit for the same period was Rs 1.77 crore, showing a 59.46 per cent year-on-year growth but a 47.48 per cent decline from the previous quarter. For the fiscal year 2024, revenue reached Rs 102 crore, growing by 436.84 per cent from the previous fiscal year, while net profit stood at Rs 9 crore, a 350.00 per cent increase year-on-year.
The market capitalisation of the stock is Rs 189 crore, with a current price of Rs 35.9. The stock's 52-week high is Rs 60, and the 52-week low is Rs 34.0. The price-to-earnings ratio is 35.1, and the book value is Rs 5.60.
Incorporated in 1980, Sprayking Agro Ltd is in the business of trading and exports of Brass items.
Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.