1:2 Bonus Issue Record Date On June 25: Below Rs 10, NBFC Penny Stock Hits New High, Rises 41% In 6-Days

Ashirwad Capital, a financial services provider, has been on a gaining streak for 6 consecutive days. Since June 12, the stock has skyrocketed over 41%, and on June 20 it even touched a new 52-week high. The stock is below Rs 10 currently, making it a penny stock. The robust buying in Ashirwad Capital can be attributed to its upcoming bonus issue in the ratio of 1:2 for which the record date is next week.

Ashirwad Capital:

The stock touched its 5% upper circuit on June 20, meaning there were only buyers and no sellers in it. The stock is at Rs 9.33 apiece which is now its new 52-week high. This penny stock is a multi-bagger.

From its 52-week low of Rs 3.50 apiece, the stock zoomed by 167% currently. This NBFC is also among the top-performing penny stocks with gains of nearly 104%. All-time gains are by 2,070%.

Ashirwad Capital Bonus Issue:

The company has declared a bonus issue of 1:2 ratio. It means that the company will issue 1 bonus share of face value Rs 1 each for every 2 (Two) existing equity shares of Rs. 1/- each held as on a record date.

Bonus shares will be issued out of free reserves created out of profits of the Company available as of March 31, 2024. The total number of securities proposed to be issued is of 3,00,00,000 equity shares amounting to Rs 3,00,00,000.

The company fixed Tuesday, June 25, 2024, as the "Record Date" to ascertain the eligibility of shareholders entitled to the issuance of Bonus Equity shares by the Company. Within 2 months from the date of Board approval i.e., by
July 08, 2024.

About Ashirwad Capital:

The Company was incorporated in the name of Ashirwad Trading and Finance Limited on 3rd May 1985 under the Companies Act, 1956 as a Public Limited Company by the Registrar of Companies, Maharashtra. The name of the Company was changed to Ashirwad Capital Limited vide a fresh Certificate of Incorporation dated 26th September 1995 issued by the Registrar of the Companies, Maharashtra.

Ashirwad Capital has been in the financial services business for the last 10 years. The Company is engaged in the business of trading in fabrics, investment in Shares and Securities and Intercorporate Deposits.