Latest Stock Market News

Penny stock trading at a discount of 31% from high declares 1:1 bonus shares

With a market valuation of 3.85 Cr, Navoday Enterprises Ltd. is a small-cap business that operates in the commercial services industry. The organisation specialises in many business areas and provides services including Business Consultancy and Advisory, financial consulting services, process management consultancy, marketing support and advertising. The company has announced record date for 1:1 bonus shares which interested buyers may make a consideration.

The company has said in a stock exchange filing that “With reference to the Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements), Regulation, 2015 we would like to inform you that the company has fixed Tuesday, 29th November, 2022 as the “Record Date” for ascertaining the eligibility of shareholders entitled for the purpose of: – 1. For issue of Bonus Equity Shares of the Company in the ratio (1:1) (One bonus equity Shares of Rs. 10/- each fully paid up- for every One existing equity shares of Rs. 10/- each Fully paid up.”

The company has also informed stock exchanges by saying that its Board of Directors has “Recommended for issue upto 38,54,000 (Thirty Eight Lacs Fifty Four thousand Only) equity shares of Rs. 10/- each as bonus shares of an aggregate nominal value upto Rs. 3,85,40,000/- (Rupees Three Crore Eighty Five Lacs Forty Thousand Only), as bonus shares to the shareholders out of the Securities Premium Account of the company for distribution among the holders of existing fully paid equity shares of Rs. 10/- each of the company.”

On Friday, the shares of Navoday Enterprises closed on the BSE at 9.99 apiece level, down by 4.86% from the previous close of 10.50. During its last trading session, the stock recorded a total volume of 132,000 shares. The shares of Navoday Enterprises got listed on BSE on June 25, 2021 with an issue price of 20 apiece, since then it has fallen 46.15% till date. In the last 1 year, the stock has fallen 1.09% and on a YTD basis, the stock has fallen 4.40% so far in 2022. The stock had touched a 52-week-high of 14.49 on (12/01/2022) and a 52-week-low of 6.00 on (18/08/2022), indicating that at the current market price the stock is trading 31.05% below the high and 66.50% above the low. For the quarter ended September or Q2FY23, the company recorded a promoter shareholding of 40.21% and a public stake of 59.78%.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.


Read More: Penny stock trading at a discount of 31% from high declares 1:1 bonus shares

You might also like