3:1 Bonus Shares: Saturday, April 20 Fixed As Record Date: Buy To Be Eligible?

As of today's BSE closing session, Shukra Pharmaceuticals, a small-cap business in the pharmaceutical industry, has left a market valuation of Rs 336.40 Cr. Shukra Pharmaceuticals is a well-known public limited company with production sites across the world. The pharmaceutical company closed on Monday at a 2% upper circuit limit of Rs 307.30 a share, following the announcement by the company's board of directors of the record date for 3:1 bonus shares. The shares of Shukra Pharmaceuticals reached a 52-week-high of Rs 388.00 on (07/03/2024) and a 52-week-low of Rs 50.34 on (10/04/2023).

Shukra Pharmaceuticals Bonus Shares News

The Board of Directors at their meeting held on 29th February 2024 considered and approved "Issue of Bonus Shares in the proportion of 3:1 i.e. 3 [Three) fully paid-up bonus equity share of Rs. 10/- [Rupees Ten only) each for every 1 (One) fully paid-up equity share of Rs. 10/- [Rupees Ten only) each held by the Members of the company as on the Record Date, subject to approval of Members of the Company through postal ballot," said Shukra Pharmaceuticals in a regulatory filing.

Shukra Pharmaceuticals Bonus Shares Record Date

"This is to inform you that the Board of Directors at its meeting held today i.e. April 06,2024, has inter-alia, considered and approved the following item: 1. 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 stock exchange filing.

"We wish to inform that pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, 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. The Bonus Shares, once allotted, shall rank pari-passu in all respects with and carry the same rights as the existing equity shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the new equity shares are allotted," stated Shukra Pharmaceuticals in a regulatory filing dated 6th April 2024.

Shukra Pharmaceuticals Financials

The company's stand-alone net revenue from operations climbed by 720.8% to Rs. 18.89 crore in the December 2023 quarter from Rs. 2.30 crore in the same quarter of 2022. Its net profit after tax for the third quarter of FY24 was Rs. 9.42 crore, up 36277.61% from Rs. 0.03 crore in Q3FY23. In a regulatory filing, the business stated that its EBITDA for the reporting quarter was Rs. 10.11 crore, up 1705.36% from Rs. 0.56 crore for the same quarter in FY23.

Shukra Pharmaceuticals Share Price Target

"Its small cap and low volumes are major setbacks in this and momentum is an advantage in it. It has been a high-growth stock for many investors and is now trading at 307. Wait for 2 days and if the price is sustained above 315 then can be considered to buy but if you get a breakdown of the 290 range and closing below then it's better to wait for more dip. Considering its current movement on chart and valuation, I am expecting a bit more correction in price and that could be considered as a value dip buying opportunity. It's a high-swing stock hence movement percentage is higher. Looking good to buy in the 215 to 240 range. Do expect targets ranging from 350 to 500 and keep stop loss at 200," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

"Shukra Pharma is bearish on the Daily charts with strong resistance at 313. A Daily close below support of 300 could lead to a target of 258 in the near term," said AR Ramachandran from Tips2trades

Disclaimer

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