Stock Doubled From 52-Week Low: Board Announces 1:1 Bonus Shares For Second Straight Year; Check Record Date Inside
The stock gave multibagger returns of 136.2 per cent from its 52-week low of Rs 75.35 per share and a whopping 2,240 per cent in 3 years.
Pulz Electronics Ltd announced plans to issue bonus shares to its existing shareholders. The company's Board of Directors will convene a meeting to approve this proposal, which involves issuing one new share for every existing equity share held. The bonus shares will have the same rights as existing shares and will be entitled to dividends proportionally from the year of allotment. Share certificates will be issued within the timeframe stipulated by the Companies Act, 2013. This bonus issue is intended to benefit all stakeholders by utilizing free reserves and promoting the company's growth. The Board fixed the record date for bonus shares at Friday, October 25, 2024.
The company has declared a bonus issue for the second consecutive year. Last year, on March 1, 2023, the company's shares traded ex-bonus in a ratio of 1:1, meaning shareholders received one additional share for every share they held.
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Pulz Electronics Ltd, established in 2005, specializes in designing and producing high-quality audio systems. Their products utilize innovative coaxial technology and line array-based speaker systems, catering to diverse industries like cinema, pro audio, studio and home audio. Key product lines include CineLine, ProLine, StudioLine, Home Audio and Personal, offering a wide range of audio solutions such as speakers, amplifiers, signal processing, microphones and headphones. Pulz Electronics is committed to delivering cutting-edge audio experiences through its continuous development of new products like tower speakers, bookshelf speakers, satellite and subwoofer combinations and augmented audio.
On Monday, shares of Pulz Electronics Ltd plunged 0.39 per cent to Rs 178 per share from its previous closing of Rs 178.70 per share. The company has a market cap of Rs 194 crore with a PE of 20x, an ROE of 40 per cent and an ROCE of 52 per cent. The stock gave multibagger returns of 136.2 per cent from its 52-week low of Rs 75.35 per share and a whopping 2,240 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.