Bonus Bonanza: 1:1 Bonus Issue Ratio, February 14 Record Date; Attractive Pick?

On April 16, 1992, Richfield Financial Services Ltd. was established as a Private Limited Company in the West Bengal state under the brand and logo of Richfield Financial Services Limited engaged in providing financial services, including loan syndication, stock broking, portfolio management, merchant banking, and project consulting. Following the Board's announcement of the record date for bonus shares, Richfield Financial Services' shares were trading on the BSE on Wednesday at a 2% upper circuit limit of Rs 113.25 per share, with a market capitalisation of Rs 42.47 Cr.

Richfield Financial Services Bonus Shares Record Date

"This is further to our letter dated December 20, 2024, we wish to inform you that the Board of Directors of the Company in its meeting held on December 20, 2024 has fixed Friday, February 14, 2025 as the "Record Date" to determine the eligibility of shareholders for issuance of the Bonus Shares. The allotment is subject to the approval of shareholders in the Extra Ordinary General meeting scheduled to be held on February 13, 2025," said Richfield Financial Services in a stock exchange filing on Tuesday.

Richfield Financial Services Bonus Issue Ratio

At its meeting on December 20, 2024, the company's board of directors approved the proposal to declare and recommend 1:1 bonus equity shares to the company's existing shareholders.

Richfield Financial Services Financials

The company's net sales for the September 2024 quarter were Rs 0.79 crore, rising 98.3% from the September 2023 quarter's net sales of Rs 0.40 crore. In Q2FY25, it recorded a net loss of Rs. 0.03 crore, a 115.7% decrease from Q2FY24's Rs. 0.19 crore. EBITDA dropped 115.79% from Rs. 0.19 crore in Q2FY24 to Rs. 0.03 crore in the second quarter of the current fiscal. Richfield Financial Services is yet to release its Q3FY25 results.

Richfield Financial Services Share Price Target

"Richfield Financial stock price is bullish & also very overbought on the Daily charts with next resistance at 117. Investors should be booking profits as a Daily close below support of 108 could lead to a target of 98 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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