7:1 Bonus Shares/1:10 Stock Split: Ex-Date Today; Buy/Sell Or Hold?

Sunshine Capital Ltd. is an NBFC small-cap company, valued at Rs 384.83 Cr. on the market. On Wednesday, the stock closed at a new 52-week high of Rs 295.55, which was also the upper circuit limit by 2%. The rise in the stock price was seen before the ex-bonus date, which fell on Thursday, March 7, 2024, in order to facilitate a 1:10 stock split and 7:1 bonus shares. Sunshine Capital is one of Dalal Street's multibagger stocks, having risen 200.78% YTD in 2024 and 756.92% in only one year.

Sunshine Capital Stock Split Update

"This is for your kind information that both the Depositories i.e. NSDL and CDSL have allotted new ISIN for Equity Shares of the Company having Face Value of Rs. 1/- (after effecting Sub-division of Face Value of Equity Shares of the Company) as following: New ISIN for Face value of Rs. 1/- Equity Shares- INE974F01025," said Sunshine Capital in a regulatory filing on 06.03.2024.

Sunshine Capital Record Date For Bonus Shares & Stock Split

The company has fixed 8th March 2024 as the record date for sub-division in face value of equity shares of Rs. 10/- to Rs. 1/- each and bonus issue of equity shares in the ratio of 7:1 i.e 7 (Seven) equity shares for every 1 (One) equity shares held by shareholders.

Sunshine Capital Bonus Shares & Stock Split Announcement Date

The Board of Directors considered the "Approval for stock split (sub-division of equity shares) of Company's 1 (One) equity share of face value of Rs.10/- each into 10 (Ten) equity shares of face value of Re. 1/-each, subject to the approval of shareholders and other approvals as may be required. Issuance of Bonus Issue of Equity Shares in the proportion of 7 (seven) Equity Share of Re. 1/- each for every 1 (One) Equity Share of Re. 1/- each held by the Shareholders of the Company as on the record date, subject to the approval of shareholders i.e. in compliance with the applicable laws," said Sunshine Capital in a regulatory filing on 12.01.2024.

Sunshine Capital Share Price Target

Sunshine Capital is bullish but also very overbought with next resistance at 317 on the Daily charts. Investors should book profits at current levels as Daily close below support of 269 could lead to a target of 230 in the near term, said AR Ramachandran from Tips2trades.

Disclaimer

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