1:1 Bonus Shares: 23rd April - Tuesday, Fixed As Record Date; Buy To Be Eligible?

After recording a fresh record high at Rs 3,541.20 apiece on Thursday, the shares of The Anup Engineering ended on the BSE at Rs 3378.85 apiece on Friday. The Anup Engineering is among the multibagger stocks of Dalal Street in recent times as the scrip has gained 223% in the last 1 year and on a YTD basis the stock has gained 25.96% so far in 2024. The focus is now more on the stock after the Board of Directors declared a record date for 1:1 bonus shares. The National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) are the Indian stock exchanges where ANUP is listed. The company has been in the heavy fabrication industry for 6 decades. The stock touched a 52-week-high of Rs 3,541.20 on (04/04/2024) and a 52-week-low of Rs 1,012.35 on (12/04/2023).

Anup Engineering Bonus Shares Record Date

"Pursuant to Regulation 42 of Listing Regulations, the Company has fixed Tuesday, 23rd April 2024 as the Record Date for the purpose of determining the names of Members who shall be entitled for allotment of bonus equity shares in the ratio of 1:1 i.e. 1 (One) new fully paid-up equity share of Rs. 10/- each for every 1 (One) fully paid-up equity share of Rs. 10/- each held by the existing Members of the Company," said Anup Engineering in a regulatory filing on 3rd April.

"The Bonus Issue of the Company is subject to the Approval of Members of the Company at the Extra Ordinary General Meeting scheduled to be held on 12th April 2024," the filing further stated.

Anup Engineering Note For Physical Shareholders

"Pursuant to SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2023 effective from 23rd May 2023, the allotment of shares in bonus issue shall be made only in dematerialized form and thus, all the eligible Shareholders of the Company holding Equity Shares in physical mode are hereby advised to dematerialize their physical share certificates by contacting their respective Depository Participant (DP) on or before the Record Date for receipt of Bonus Equity Shares in their respective beneficiary accounts. In case, shares of the Company are held in physical form as on the Record Date, the Bonus Equity Shares so entitled, shall be transferred to the Suspense Escrow Account opened by the Company in this regard," the company stated in a regulatory filing.

Anup Engineering Share Price Target

"Anup Engineering Ltd, focused on manufacturing and fabrication of engineering goods, has recorded a fresh all-time high, creating a buzz in the stock market. The company which serves multiple industries, including oil and gas, petrochemicals, fertilizer, chemicals, power, water, and aerospace, has delivered a 202.62% return in just 1 year, impressing stakeholders. In addition, the company's net income is witnessing rapid growth, making it lucrative for investors. However, I believe the company's current price range is high for short-term investors. So, I recommend waiting for the price to cool off or investing in the stock in parts if they are willing to explore the current price range. My analysis also suggests that a healthy dip opportunity ranging from Rs. 2850-3050 could emerge soon, so I advise traders to set a target of Rs. 3750-Rs. 5000 for FY25," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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