Jewellery Stock Allots of 6,70,000 Shares As Bonus Issue In 1:5 Ratio; Watch & Buy?

Established in 1995 and based in Mumbai, Maharashtra, India, Ceenik Exports (India) Ltd is a corporation that specialises in mutual funds, financial markets, and property and construction ventures. As of 2:30 pm IST on Monday, Ceenik Exports India Ltd.'s (NDA) shares were down 3.74% at Rs 1,180, with a market value of Rs 476.37Cr. This followed the Board of Directors' approval of the issuance of 6,70,000 equity shares with a face value of Rs. 10 each as fully paid-up bonus equity shares in a 1:5 ratio at their meeting today, January 6, 2025.

Ceenik Exports Bonus Shares

"Pursuant to the recommendation of Board of Directors of the Company at the duly convened Board Meeting on 20th November, 2024 and subsequent approval of Shareholders at the Annual General Meeting held on 21st December, 2024, we wish to inform you that the Board of Directors at their meeting held today i.e. 06th January, 2025 have approved allotment of 6,70,000 Equity Shares having face value of Rs.10 /- each as fully paid-up Bonus Equity Shares, in the ratio of 1:5 i.e. 1 (One) New Equity Share having face value of Rs.10 /- each for every existing 5 (Five) equity shares having face value of Rs.10 /- each held, to those Shareholders whose names appear in the Register of Members on the record date fixed for this purpose," said Ceenik Exports in a stock exchange filing on Monday.

"The Bonus Shares allotted as above shall rank pari- passu with the existing Equity Shares of the Company and shall be entitled to such dividends and corporate benefits, if any, declared by the Company after the said allotment," Ceenik Exports further informed stock exchanges.

The record date for Ceenik Exports' determination of the eligibility of shareholders eligible for bonus equity Share issue was set for January 3, 2025.

Ceenik Exports Financials

The company's Q2 FY25 standalone net profit of Rs 4.28 crore was considerably higher than the Q2 F24 net profit of Rs 0.13 crore. In the second quarter of FY25, total operating income was Rs 6.48 crore, which represented an 867.16% year-over-year growth. In Q2 of FY25, profit before tax was Rs 5.93 crore, a substantial rise over the Rs 0.13 crore recorded during the same time the year before.

Ceenik Exports Share Price Target

"Ceenik Exports stock price is bearish on the Daily charts with strong resistance at 1280. A Daily close below support of 1168 could lead to a target of 1025 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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