Penny Stock Under Rs 10; Board is likely to announce bonus shares!

The stock is up by 37.18 per cent from its 52-week low of Rs 3.90 per share.

Bright Solar Ltd informed that The Board of Directors of the company will be holding a meeting on Friday, May 26, 2023, to transact the following business:   

1. To consider a proposal for an increase in the authorized capital of the company and subsequent alteration to the memorandum of association of the company.   

2. To recommend and approve the issue of bonus shares to the equity shareholders of the company.   

3. To appoint a scrutinizer to scrutinize the voting process in a fair and transparent manner.   

4. To consider and approve notice calling a general meeting for approval of shareholders.   

5. Any other item with the permission of the chair and majority of directors.  

DSIJ offers a product 'Tiny Treasure' with recommendations for Small-Cap & micro-cap stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the product details pdf here

On Wednesday, one of the Top Gainers on NSE, shares of Bright Solar Ltd were locked in 5 per cent upper circuit to Rs 5.35 per share from its previous closing of Rs 5.10.   

Bright Solar Ltd is into assembling DC/AC solar pumps and solar pump systems, epc contracts of solar photo voltaic water pumps, consulting of projects and tenders, water supply and sewerage infra project.   

This micro-cap company has a market cap of Rs 13.38 crore. The company reported positive numbers in its Quarterly Results and annual results.   

The stock is up by 37.18 per cent from its 52-week low of Rs 3.90 per share. Bright Solar Ltd is an SME stock which should be kept under the radar.