1:2 Bonus Shares: Ex-Date In 3 Days On 3rd April; Bet To Be Eligible?

As of the closing session on March 28, 2024, Sunrise Efficient Marketing Ltd., a small-cap commercial services firm, has a market valuation of Rs 96.60 Cr. Since its founding in 2002, Sunrise Efficient Marketing Limited has been one of India's top suppliers of IE 2 and IE 3 grade induction motors, power transmission products like worm and helical gearboxes, LED lighting fittings, and a variety of lubricants like gear oil, hydraulic oil, and thermic fluid. It also provides industrial and chemical pumps. The stock is likely to be in focus this week as it will trade ex-bonus on 3rd April for 1:2 bonus shares after closing at Rs 96.60 apiece during the last trading session.

Sunrise Efficient Marketing Bonus Shares Record Date

"We wish to inform that the Board of Directors of the Company have fixed Wednesday, April 03, 2024 as the Record date for the purpose of determining the eligibility of Member's for allotment of bonus equity shares in the proportion of 1:2 i.e. 1 (One) bonus equity share of Rs. 10/- each for every existing 2 (Two) equity shares of Rs. 10/- each, subject to the approval of shareholders of the company at EGM to be held on Saturday, 23rd March, 2024 at 11.00 A.M. at the registered office of the company," said Sunrise Efficient Marketing in a regulatory filing.

Sunrise Efficient Marketing Bonus Shares Update

"The consent of the members of the Company be and are hereby accorded to capitalize a sum of Rs. 5 crore only (Rupee Five Crore Only) out of free reserve and surplus, for the purpose of issuance of bonus shares of 50,00,000 equity shares of Rs. 10/- (Rupees Ten Only) each, credited as fully paid-up equity shares to the holders of existing equity share(s) of the Company whose names appear in the Register of Members maintained by the Company and the List of Beneficial Owners as received from the National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) on the Record Date as fixed by the Board for the purpose, in the proportion of 1 (one) Bonus equity share of Rs. 10/- each for every (2) Two existing equity share of Rs. 10/- each held by the Members/Beneficial Owners and that the Bonus Shares so distributed shall, for all purposes, rank pari passu with the existing equity shares and shall be treated as increase in the paid up share capital of the Company," said Sunrise Efficient Marketing in a regulatory filing on 23/03/2024.

Sunrise Efficient Marketing News

The company recently increased the authorised share capital from Rs. 10 Cr divided into 1 Cr equity shares of Rs. 10/- each To Rs. 15 Cr divided into 1.50 Cr equity shares of Rs. 10/- each aggregating to Rs. 15 Cr only by further creation of additional 50,00,000 equity shares of Rs. 10/- each ranking pari passu with the existing equity shares of the company in all respects.

Sunrise Efficient Marketing Share Price Target

"Sunrise Efficient Marketing is bearish on the Daily charts with strong resistance at 104. A Daily close below support of 90 could lead to a target of 78.5 in the near term," said AR Ramachandran from Tips2trades.

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