Bonus Shares In 2025: 1:1 Ratio, January 01 Record Date; Consider Fresh Buying Positions?

Since its founding in 1973, Surya Roshni has evolved into a company that has established a solid presence in the steel pipes & strips industry while also growing its lighting & consumer durables sector. After beginning in 1973 as a steel tube manufacturer, the firm expanded into lighting in 1984, PVC pipes in 2010, and consumer durables such fans and home appliances in 2014-2015. In India, the "Surya" brand and Prakash Surya have been well-established for over 40 years. With a wide dealer network in all of its businesses-Steel Pipes & Strips and Lighting & Consumer Durables has a significant presence throughout India.

Surya Roshni Bonus Shares Record Date

The company has set Wednesday, January 01, 2025, as the "Record Date" to determine the eligibility of shareholders for the issuance of the bonus shares or to allocate 10,88, 17,948 equity shares of Rs 5/-each as bonus shares in the ratio of 1 new equity share for every 1 existing equity share held in the company.

Surya Roshni Financials

For the September quarter, the company's overall net profit increased by 11.71 per cent to Rs 76.01 crore. According to a regulatory filing by Surya Roshni, it reported a consolidated net profit of Rs 68.04 crore for the same quarter of the previous fiscal. Compared to Rs 1,948.21 crore in Q2FY24, revenue from operations decreased 3% to Rs 1,915.73 crore in Q2FY25. In the September quarter, the company's total expenses decreased 4.3% to Rs 1,813.73 crore. In the September quarter, Surya Roshni's total income was Rs 1,917.24 crore, a 3.47 YoY drop.

Surya Roshni Share Price Target

Hardik Matalia - Derivative Analyst at Choice Broking said, "SURYAROSNI is currently trading around Rs 562, consolidating within a wide trading range of Rs 530-Rs 700 after being in a steady long-term uptrend over the past several months. This sideways movement suggests that the stock is undergoing a phase of consolidation after its prior rally. Investors should exercise caution at this level and avoid premature entries until a clear reversal pattern emerges from the lower boundary of the consolidation range."

"The Relative Strength Index (RSI) is trading at 45.17, reflecting a sideways trend. This indicates the stock might witness either a time-wise correction, where the price stabilizes over an extended period or a price-wise correction with a potential decline before finding support. Notably, SURYAROSNI is trading below its key moving averages across short-term, medium-term, and long-term periods. This further highlights a lack of bullish momentum and adds weight to the need for confirmation of a reversal before considering fresh buying positions," the analyst commented.

"If the stock breaches the lower end of its trading range, there is a likelihood of further downside, necessitating patience from investors. A sustainable breakout on the upside or visible signs of reversal from lower levels would offer better opportunities for entry. Until then, traders and investors are advised to closely monitor the stock's movement within the range and track the overall market sentiment for cues on directional bias," recommended Hardik Matalia.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.