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

As of today's closing session on the BSE, The Anup Engineering Ltd., a small-cap company in the capital goods category, has a market valuation of Rs 3,133.90 Cr. With six decades of experience, two top-notch facilities spanning 170,000 square meters and cutting-edge equipment, The Anup rose to the top of the heavy fabrication industry. As a separate entity (Lalbhai Group Companies), ANUP is listed on the stock marketplaces of India, National Stock Exchange of India Limited (NSE) and BSE Limited (BSE). Regarding its long-term bank facilities, ANUP has been rated CARE A+ with a stable outlook. The stock is likely to be in focus in the coming session as the company has fixed a record date for 1:1 bonus shares following which the stock ended on Tuesday at Rs 3149.50 apiece on BSE. The stock touched a 52-week-high at Rs 3,324.35 on (20/03/2024) and a 52-week-low at Rs 1,009.95 on (03/04/2023).

The 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 The Anup Engineering in a regulatory filing today.

The bonus issue of The Anup Engineering is subject to the approval of members of the company at the extraordinary general meeting scheduled to be held on 12th April 2024, as per a BSE filing.

The Anup Engineering Bonus Share 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 Anup Engineering said in a stock exchange filing dated 2nd April 2024.

The Anup Engineering Share Price Target

Anup Engineering is bearish on the daily charts with strong resistance at 3325. A daily close below support of 3106 could lead to a target of 2715 in the near term, said AR Ramachandran from Tips2trades.

Disclaimer

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