Bonus Share and Stock Split to be Announced by this Smallcap Company; Stock Rallied 20 per cent and Hits Upper Circuit!
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The company’s shares have delivered an impressive return of over 50 per cent to its shareholders.
Incorporated in 2011, Starlineps Enterprises Ltd is engaged in the trading of precious metals, stones, and jewellery. The company's Board of Directors will convene on Thursday, August 8, 2024, at the Registered Office located in Gujarat. The agenda for the meeting includes several key proposals:
Sub-Division or stock split of Equity Shares: The Board will consider a proposal to subdivide or split the company's equity shares, which currently have a face value of Rs 5 each. This move is aimed at increasing share liquidity and making the shares more accessible to small investors.
Issuance of bonus Shares: The Board will also evaluate a proposal to issue bonus shares to existing equity shareholders. This initiative is intended to reward current shareholders, expand the share capital base, and improve stock liquidity.
Increase in Authorized Share Capital: Additionally, the Board will review a proposal to increase the company's authorized share capital.
These steps are designed to enhance shareholder value and improve the company’s financial flexibility.
On Monday Starlineps Enterprises Ltd shares closed at around Rs 162.05 per share. The company’s current market capitalization stands at Rs 700.54 crore. The company’s shares have delivered a return of over 50 per cent in the past 1 year.
As per the Quarterly Results, in Q4 FY24, Starlineps Enterprises Ltd recorded a revenue of Rs 11.59 crore. The operating loss for Q4 FY24 stood at Rs 0.67 crore. The net loss for Q4 FY24 was Rs 20 crore. Looking at the annual performance, the company generated a revenue of Rs 29.76 crore in FY24. The operating profit for FY24 was Rs 1.94 crore with a net profit of Rs 1.79 crore.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.