July 21, 2024

Bonus Share Declared: Small Cap Agro Stock Gains 21% In 2-Weeks On Bonus Buzz

3 min read

New Delhi (India), February 6: Small cap stock from the agro-processing sector stock M K Proteins Ltd on Tuesday recommended bonus shares in the ratio of 2:1 implying shareholders will be eligible to get 2 bonus shares for every 1 share held as on the record date.

M K Proteins shares zoomed 21% in last 2-weeks on bonus share buzz and soared 1925% in last 3-years. Last trading price of M K Proteins shares on BSE is Rs 47.28 apiece with intraday fall of 1.64%. Check details given below:

M K Proteins Recommends Bonus Shares: As per the BSE filing of the company dated Jan 30, 2024, “The proposal of issuance of issuance of bonus equity shares to the existing shareholders of the company in the ratio of 2:1 i.e. 2 (two) fully paid-up bonus equity shares of the face value of Re 1/- each for every 1 (one) existing fully paid up equity shares having a face value of Re 1 each held by the eligible shareholders of the company as on the record date, subject to approval of shareholders and such other approvals may be required.” Record date is yet to be decided for bonus shares.

The company’s recent results have been positive, and they are planning to increase their authorized capital. They have a strong order book of approximately 270 crores, and they are also expecting to announce a dividend in the near future.

M K Proteins Stock Split: Earlier last year M K Proteins declared stock split and fixed November 10 as the record date. As per the BSE filing of the company dated October 27, 2023, “Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) 2015, we wish to inform you that pursuant to the shareholders’ approval obtained though postal ballot on October 25, 2023, the Board of Directors of the Company has fixed Record Date as mentioned below in the table for the purpose of sub-division/split of 1 (one) Equity Shares of the Company having a face value of Rs. 10/- each into 10 (Ten) Equity shares of the company having face value of Re. 1 each.”

M K Proteins Stock Performance & Return: The 52-week high price of M K Proteins shares on BSE is Rs 100.00 per share and 52-week low price is Rs 35.07 per share, respectively. M K Proteins has a market capitalisation of Rs 675 crore. M K Proteins shares declined 36% in last 6-months, jumped 1925% in last 3-years, and soared 2000% in last 5-years. M K Proteins About: M.K. Proteins is presently engaged in manufacturing vegetable refined oils, with a refining capacity of 250 tons per day. It refines rice bran, sunflower, cotton seed, soya bean, palm, and canola oil at its manufacturing facility in Ambala, Haryana, according to its official website.

 Disclaimer: The stock just highlights the bonus issue and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.

Please note that I cannot provide any financial advice or make any recommendations about the suitability of this company as an investment. It is important to do your own research and consult with a qualified financial advisor before making any investment decisions.

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