3:1 Bonus Shares: Record Date In 3 Days On 20th April; Buy The Pharma Stock?

As of Tuesday's closing session, Shukra Pharmaceuticals Ltd., a small-cap pharmaceutical firm, has a market valuation of Rs. 356.71 Cr. Established in 1993, Shukra Pharmaceuticals Ltd. is an integrated Indian manufacturer of pharmaceutical formulations with WHO-GMP certification. According to details available on the BSE, the stock will be the focus of attention this week due to the release of the 3:1 bonus shares, for which the ex-bonus date is set for April 19, 2024, and the record date is set for April 20. Shukra Pharmaceuticals' shares ended the last trading session on April 16th, 1.99% higher at Rs 325.85 a share. The pharma stock reached a 52-week-high of Rs 388.00 on (07/03/2024) and a 52-week-low of Rs 62.00 on (17/04/2023).

Shukra Pharmaceuticals Bonus Shares

The Board of Directors of the company at their meeting held on February 29, 2024 considered and approved 3:1 bonus shares i.e. 3 new fully paid-up bonus shares will be allotted against every 1 equity share held on the record date.

"The Board of Directors has fixed Saturday, April 20, 2024 as the record date,for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Shares," said Shukra Pharmaceuticals in a regulatory filing.

Shukra Pharmaceuticals Financials

From Rs. 2.30 crore in the same quarter of 2022 to Rs. 18.89 crore in the December 2023 quarter, the company's stand-alone net revenue from operations climbed by 720.8%. Its net profit after tax jumped to Rs. 9.42 crore in the third quarter of FY24 from Rs. 0.03 crore in Q3FY23, a 36277.61% growth. The company reported that its EBITDA for the reporting quarter was Rs. 10.11 crore in a regulatory filing, which represents a 1705.36% rise compared to Rs. 0.56 crore for the same period in FY23. The company will soon declare its Q4FY24 results.

Shukra Pharmaceuticals Share Price Target

"Shukra Pharmaceuticals Ltd is a WHO-GMP-certified integrated Indian manufacturer of pharmaceutical formulations, such as tablets, capsules, and parenteral. Despite being a globally acclaimed company, its small market capitalization and low trading volumes often emerge as drawbacks. However, the stock's current momentum appears to be an advantage. To elaborate, it has been a high-growth stock for many and is currently trading at Rs.325, drawing the attention of investors. In this situation, I suggest waiting for two days, and if till then the price of stocks sustains above the Rs.315 range, investors may consider buying it. However, if there's a breakdown below the Rs.290 mark and the price closes lower than the level, it would be wise to wait for a further dip. Judging by the current momentum on the chart and the stock's market valuation, I expect a correction in its price after it reaches the Rs.290 range. Such a development could be seen as a potential value dip buying opportunity. At present, there is a high swing in its price, leading to substantial volatility in its percentage of movement. Regardless, individuals who wish to buy this stock may consider the Rs.320-330 range. They may follow a target price between Rs. 350 and Rs. 500 but must set a stop loss at Rs.275 to minimize loss," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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