2:1 Bonus issue: Multibagger company announces extension of record date for bonus shares, Stock hits back-to-back upper circuits!

The company's shares have delivered an impressive return of over 370 per cent to their shareholders in just one year.

Newtime Infrastructure Limited informed that during the Board meeting held on Thursday, April 11, 2024, they approved bonus shares in the ratio of 2:1, i.e., the issue of 2 fully paid-up bonus equity shares for every 1 existing fully paid-up equity share held by the equity shareholders of the company as on the 'record date.'

Earlier, the record date was fixed for Tuesday, May 21, 2024, for the purpose of ascertaining the eligibility of the shareholders entitled to bonus shares. Now, the company has informed via a press release that the record date has been revised to Thursday, May 23, 2024.

On Saturday, the company’s shares rallied 4.97 per cent, hit the upper circuit, and finally closed at Rs 54.32 per share on the BSE. The current market capitalization of the company stands at Rs 950 crore. Additionally, the shares of this Small-Cap company have delivered an impressive return of 134 per cent in the past 6 months and a 370 per cent multibagger return in the past one year. The company’s stock has hit back-to-back upper circuits for the last two days, including Saturday.

Newtime Infrastructure Limited has not yet announced its Quarterly Results for Q4 FY24 and will do so soon.

Business Overview

Newtime Infrastructure was earlier involved in the development of the information technology business under the name Intra Infotech Limited. It then changed its name and main objective to infrastructure business, seeing the immense growth in the sector. It is now engaged in real estate development with a pan-India presence and operations spanning all key segments of the Indian real estate industry, namely the residential, commercial, and retail sectors. The company's operations encompass various aspects of real estate development, such as land identification and acquisition, project planning, designing, marketing, and execution.

Investors must keep this small-cap multibagger penny stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.