1:1 Bonus Shares: Saturday, May 25, 2024 Fixed As Record Date; Pick Your Stake To Be Eligible?

At its several production facilities in and around Hyderabad, India, Veljan Denison has been producing a broad range of pneumatic and hydraulic equipment, components, and systems for more than 50 years. With its extensive experience, Veljan can offer comprehensive solutions for every application, including those in the shipbuilding, energy, mobile, and industrial areas. Veljan Denison also engaged in producing custom-built power systems and manifold blocks in addition to pumps, motors, and valves.

Veljan Denison Bonus Shares Record Date

"Pursuant to Regulation 42 of SEBI (Listing Obligation and Disclosure Requirements), 2015, the Company has fixed Saturday, May 25, 2024 as the Record Date for the purpose of determining the shareholders and their entitlement for issue and allotment of Bonus 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) existing fully paid-up equity share of Rs. 10/- each held by them. The Bonus Shares shall be allotted to the equity shareholders whose names appear in the Register of Members/ List of Beneficial Owners provided by the Depositories as on the said date," said Veljan Denison in a regulatory filing.

Veljan Denison News

"With reference to the above subject, we wish to inform you that pursuant to Reg. 29 and 33 of SEBI (LODR) Regulations, 2015 and all other applicable provisions, if any, a meeting of the Board of Directors of Veljan Denison Limited will be held on Thursday, May 23, 2024, inter-alia to consider amongst other businesses the following: 1) To consider and approve the Audited Financial Results (Consolidated & Standalone) of the Company for the year ended March 31, 2024, 2) To consider and recommend the Dividend, if any, on the equity shares of the Company for financial year 2023-2024 and 3) Any other items with the permission of the Chair. Further, in terms of Company's Code of Conduct to regulate, monitor and report trading by insiders framed pursuant to SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2019, the "Trading Window Close Period", for dealing in the securities of the Company for all Directors, connected persons, designated officers and employees of the Company, has commenced from April 1, 2024 and will end on May 25, 2024 (both days inclusive)," the company informed to the exchanges.

Veljan Denison Share Price Target

"Fluid power company Veljan Denison Limited is trading in the overbought zone. However, the stock displays strong momentum, suggesting a potential breakout above its March high. Beyond this level, the stock could experience a new rally. In terms of financials, the company has delivered 197.42% returns in a year and offered a dividend of 0.33%. I recommend holding this stock for 3 months to chase a targeted price of Rs. 4350/4500/4750/5000. However, individuals must set their stop loss at Rs. 3440 to protect gains," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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