2:1 Bonus Shares Declared: Small Cap Stock Hits Upper Circuit, Gains 182% In 180-Days

Shares of Network People Services Technologies today hit 5.00% upper circuit after the company recommended bonus shares in the proportion of 2:1 implying shareholders will be eligible to receive 2 bonus shares for every 1 share held as on the record date. Last trading price of Network People Services share on BSE is Rs 2316.45 apiece on NSE. Network People Services Technologies shares offered return of 182% in last 6-months. Check details below:

Network People Services Technologies Recommends 2:1 Bonus Shares: As per the NSE filing of the company dated today, "The board approved and recommended bonus issue of equity shares in the ratio of 2:1 i.e., two new bonus equity shares of Rs. 10/- each for every one existing fully paid-up equity shares of Rs. 10/- each, subject to the approval of shareholders in the Extra Ordinary General Meeting and any other applicable statutory and regulatory approvals. Further, the bonus shares will be credited to those members who are holding the equity shares as on a record date fixed for the purpose. The company will inform in due course the Record date for determining entitlement of the shareholders to receive Bonus Shares."

The company also recommended to the Shareholders, increase in Authorized Share Capital of the Company from Rs. 7,50,00,000/- divided into 75,00,000 equity shares of 10/- each to Rs. 25,00,00,000/- divided into 2,50,00,000 equity shares of Rs. 10/- each and subsequent alteration to the Memorandum of Association of the Company.

Network People Services Stock Performance & Return: Last trading price of Network People Services share on NSE is Rs 2316.45. The company has a market capitalisation of Rs 1496.89 crore. The stock's 52-week high price is Rs 2376.75 per share and 52-week low price is Rs 120.00 per share, respectively. Network People Services shares jumped 70% in last 3-months and gained 1553% in last 1-year.

About: NPST is in the business of providing Software and Mobility solution to banking and finance sector with key focus on Payments and Smart transaction solutions. Its primary focus being Financial Technology, it has built a multi-layered solution for the cashless economy. Other than software, NPST is into delivery of aggregated services (Merchant platform) to citizens through multiple channels viz., Physical Kiosk, Web based and Mobile based solution, according to its LinkedIn page.

Disclaimer:

The stock highlights the bonus share and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.