1:1 Bonus Shares: Multibagger Stock Sets Record Date; Jumps 115% In 6 Months

With a market valuation of Rs 622.17 cr, Sinclairs Hotels Ltd. is a small-cap company in the consumer discretionary industry. The shares of Sinclairs Hotels hit a new 52-week high of Rs 247.80 per share on Friday and ended the day up 6.33% at Rs 242.75. One of Dalal Street's multibagger stocks is Sinclairs Hotels, which has gone up by 115% in the last six months and 126.55% in the last year. What's more noteworthy about the company, though, is that the Board of Directors has set a record date for bonus share corporate action.

Sinclairs Hotels Bonus Shares

"Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Monday, January 29, 2024, as the 'Record Date' for the purpose of ascertaining the eligibility of Shareholders for the issuance of fully paid-up Bonus Shares in the ratio of 1:1 (i.e. One equity share of Rs. 2/- each fully paid up for every One existing equity share of Rs. 2/- each), subject to approval of Shareholders which is being obtained in an Extra Ordinary General Meeting of the Company scheduled on January 18, 2024," said Sinclairs Hotels in a stock exchange filing.

Sinclairs Hotels Financials

The company reported a net income of Rs 10.31 Cr during the quarter ended September 2023 compared to Rs 9.30 Cr in the quarter ended September 2022. It reported a net expense of Rs 8.69 Cr during the quarter which was Rs 7.11 Cr in the same quarter of FY23. Its EBIT stood at Rs 1.62 Cr in the second quarter of the current financial year compared to Rs 2.19 Cr in the same quarter of the previous fiscal. Sinclairs Hotels reported a net profit of Rs 1.27 Cr in Q2FY24 compared to Rs 1.56 Cr in Q2FY23.

Sinclairs Hotels Share Price History

In the previous 5 years, the stock price has gone up from Rs 70.76 to the current market price of Rs 242.75 clocking in a multibagger return of 267.80%. The stock price went up from Rs 47 to the current market price during the previous three years, resulting in a multibagger return of 408.38%. With a multibagger return of 130.31%, the stock price has gone up from Rs 107.15 to the present market price in the 1 year. On a YTD basis, the stock price has gained 13.57% and in the previous 6 months, the stock price soared from Rs 113.20 to the current market price, raking in a multibagger return of 114.44%. The stock has risen by 32.58% in a month and 16.68% over the last five trading sessions.