Triple Bonanza! Board Likely To Announce 2:1 Bonus Share, 10:1 Stock Split & 100 Per Cent Dividend: Penny Stock Under Rs 30 Hit Upper Circuit
The shares of the company saw a spurt in volume by more than 3 times on BSE and up by 12.22 per cent from its 52-week low of Rs 23.32 per share.
Pradhin Ltd has issued a notice indicating that its Board of Directors will convene on January 17, 2025, to deliberate on several significant matters. These include a potential 10:1 stock split of existing equity shares, requiring shareholder approval via postal ballot. The company will subsequently amend its Memorandum of Association to reflect this change. The Board may also propose an interim dividend of up to 100 per cent for the current fiscal year, with the record date to be determined later.
Furthermore, Pradhin Ltd. is considering a 2:1 bonus share issue to eligible shareholders. This issuance would be facilitated by capitalizing existing securities premium and would necessitate shareholder approval. The company's board meeting will comprehensively examine these proposals and take necessary actions, potentially leading to a "Triple Bonanza" for investors with a combination of stock split, bonus shares, and a substantial dividend payout.
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Pradhin Ltd, formerly known as Bhagwandas Metals Ltd., is a dairy products company incorporated in 1982. Previously involved in the steel industry, the company underwent a significant transformation in 2018. An open offer resulted in a change in management, leading to new directors and the resignation of the executive chairman. Subsequently, the company rebranded as Pradhin Ltd. and shifted its focus to producing, marketing, and trading in dairy products, including Pure Ghee, Skimmed Milk Powder, White Butter, Yellow Butter, and Dairy Whitener.
The company has a market capitalization of Rs 59.79 crore. On Monday, shares of Pradhin Ltd were locked in a 5 per cent upper circuit to Rs 26.17 per share from its previous closing of Rs 24.93 per share. The shares of the company saw a spurt in volume by more than 3 times on BSE and up by 12.22 per cent from its 52-week low of Rs 23.32 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.