2 Stocks To Trade Ex-Bonus For 1:5 & 1:2 Ratio On Thursday, 15th Feb: Buy Any?

On Thursday, February 15th, two stocks-Akshar Spintex Ltd. and KPI Green Energy Ltd.-will be turned to ex-date with respect to bonus shares. The record date for both firms' bonus share declarations is February 15th. Akshar Spintex declared bonus shares in a 1:5 ratio, while KPI Green Energy declared bonus shares in a 1:2 ratio. As a result of the T+1 settlement process, both stocks will trade ex-bonus tomorrow.

Akshar Spintex Bonus Shares

The Board of Directors of the company has recommended a bonus issue in the ratio of 1:5 ie. 1 new bonus equity share for every 5 existing fully paid up equity shares of Rs 1/- each, subject to approval by the members of the company.

"With reference to the earlier letter dated January 23, 2024 regarding Record Date for the purpose of Issue of Bonus Shares. The company cancelled record date earlier i.e.08th February 2024. The revised record date for the purpose of bonus issue is Thursday. 15th February, 2024. The reason for change record is adjournment of EGM. The Extra Ordinary General Meeting was held on 31st January 2024. Due to lack of quorum the EGM was adjourned to 07th February 2024, so for compliance of the Regulation the Record date revised or record date is 15th February, 2024 for the purpose of bonus issue. The earlier Record date i.e.8th February, 2024 is cancelled. The revised Record date is 15th February, 2024 for the purpose of Bonus Issue," said Akshar Spintex in a stock exchange filing.

Akshar Spintex Share Price Target

Akshar Spintex is bullish on the Daily charts with immediate resistance at 4.45. A daily close above this resistance could lead to a target of 5.3 in the near term. Support will be at 3.85, said AR Ramachandran from Tips2trades.

KPI Green Energy Bonus Shares

"The Company has fixed Thursday, February 15, 2024, as the 'Record Date' for determining the eligibility of Shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) Equity Shares of Rs. 10/- (Ten) each for every 2 (Two) existing Equity Share of Rs. 10/- (Ten) each, subject to the approval of Shareholders which is being obtained through Postal Ballot," said KPI Green Energy in a regulatory filing.

KPI Green Energy Share Price Target

KPI Green is bullish on the Daily charts with immediate resistance at 2013. A daily close above this resistance could lead to a target of 2200 in the near term. Support will be at 1821, said AR Ramachandran from Tips2trades.

Disclaimer

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