Bonus Issue Alert: Small Cap Stock Likely To Reward Shareholders Next Week, Rallies 963% In 3 Yrs

The share price of small-cap stock operating in the financial services sector Choice International Ltd remained on investors' watchlist on Friday (January 12) as next week is going to be crucial for the company's shareholders awaiting bonus issue announcement news from the company. Today, shares of Choice International were up 1.27% at Rs 530 per share at 10:28 am IST. At this price, the company has a market cap (full) of Rs 5,274.14 crore.

It is worth mentioning that the Board of Directors of Choice International Limited will meet on January 15, 2024, to consider and recommend a proposal for the Declaration of Bonus Shares to the Equity Shareholders of the Company, subject to the approval of shareholders.

Choice International Board to consider bonus issue:

In an exchange filing on January 9, the company said, "The Meeting of the Board of Directors of Choice International Limited is scheduled to be held on, Monday, January 15, 2024, to consider and recommend a proposal for Declaration of Bonus Shares to the Equity Shareholders of the Company, subject to the approval of shareholders."

Financial Results:

Choice ended the first half of this financial year with a staggering growth of 112% YoY reporting a revenue of Rs. 333.2 Cr in H1 FY24. In Q2 FY24, the company's revenue grew 147% at Rs. 193.9 Crore compared to 78.5 crore in Q2 FY23. The company's consolidated EBITDA and PAT for Q2 FY24 stood at Rs. 51.6 Cr and Rs. 29.9 Cr respectively, up 197% and 264% compared to the prior corresponding quarter.

About Choice International

Headquartered in Mumbai, Choice Group is a decade-old organization, engaged in providing diversified services on finance, engineering and Consulting activities. Choice has its membership and registration with SEBI, RBI, NSE, BSE, MCX, NCDEX, AMFI, and depository participants with CDSL & NSDL.

An end-to-end financial conglomerate, the group has over the past decade expanded massively to become a holistic financial services firm with groundbreaking technologies and innovative methodologies to serve its clients. Choice is among the top 20 brokers with a pan India presence with over 9.25 lakh+ clients and over 30,000+ trained business associates.

Choice International Stock Price Performance:

In the last six months, Choice International shares have gained 54%, while in the last three months, they are up 25.71%. The last one-year, two-year, and three-year returns from the share price of Choice International Ltd have gained 96.36%, 593.16%, and 962.85% respectively.