1:2 Bonus Shares, Record Date In Due Course: Buy The Stock To Be Eligible?

Small-cap firm Sunrise Efficient Marketing Ltd operates in the commercial services industry. Deliveries made with a single stroke and on time are the company's speciality. In order to satisfy delivery promises, it deals in all varieties of IE 2 and IE 3 grade induction motors, power gearbox products including worm and helical gearboxes, LED lighting fittings and all varieties of lubricants like gear oil, hydraulic oil and thermic fluid.

Sunrise Efficient Marketing Bonus Shares

"The Board has recommended the issue of bonus equity shares in the ratio of 1:2 [ i.e., 1 (One) bonus equity shares of Rs. 10/- each for every 2 (Two) fully paid-up equity shares held as on record date subject to the approval of the shareholders in forthcoming Extra Ordinary General Meeting of the Company in compliance with applicable provisions of the Companies Act, 2013 read with the rules notified and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and subsequent amendments thereto," said Sunrise Efficient Marketing in a stock exchange filing.

"The Company will inform in due course, the "Record Date" for determining shareholders entitled to receive Bonus Shares. The Bonus Shares once allotted shall rank pari-passu in all respects and carry the same rights as the existing Equity Shares," the company further informed the stock exchanges on Tuesday.

Sunrise Efficient Marketing News

The Board Meeting held on 27th February also considered and approved to increase the authorized share capital of the company 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 ranking pari passu in all respect with the existing equity shares of the company and consequential amendment in Memorandum of Association of the Company, subject to the approval of shareholders of the company.

Sunrise Efficient Marketing Share Price Target

Sunrise Efficient Marketing is bearish on the Daily charts with strong resistance at 131. A daily close below support of 110 could lead to a target of 100 in the near term, said AR Ramachandran from Tips2trades.

Disclaimer

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