Penny Stock Below Rs 50: Locked In 5% Upper Circuit, Record Date For Final Dividend Declared

One of Dalal Street's penny stocks is Bhatia Communications & Retail (India). Bhatia Communications' shares closed Friday at a 5% upper circuit limit of Rs 24.30 a share, giving the company a market value of Rs 304.12 Cr. But aside from the buying tendency, speciality retail stock is probably going to be in the spotlight following the announcement of the company's final dividend and record date.

"Pursuant to the Regulation 43 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we wish to inform you that the final dividend of Re. 0.01/- per equity share having face value of Rs. 1/- i.e (1%), recommended by Board of Directors of the company at their meeting held on 29th May, 2024 has been declared by the shareholders at their Annual General Meeting (AGM) of held on 06th September, 2024. The dividend shall be paid to shareholders within the time prescribed under Companies Act, 2013," said Bhatia Communications & Retail (India) in a stock exchange filing on Saturday. The dividend shall be paid within 30 days of declaration by shareholders, if declared in the ensuing AGM.

"Dividend entitlement will be to all those beneficial owners as per details furnished by the National Securities Depository Limited and the Central Depository Services (India) Limited as on close of Tuesday, 24thSeptember, 2024," the company further informed stock exchanges.

As of 31 March 2024 the company's unclaimed dividend balance was Rs. 63,332/-. The paid-up share capital as of March 31, 2024 was Rs. 1251.52 Lacs. During the year, the company has neither issued any shares nor has granted stock options or sweat equity. As of March 31, 2024, 100% of the total paid-up capital of the company stands in the dematerialized form.

Bhatia Communications & Retail (India) is engaged in the retail distribution business of mobile handsets, tablets, data-cards, Televisions, mobile accessories, mobile related products. Apart from this business, the company is not engaged in any other business/activities.

A reputable multi-brand retailer of consumer durables, electronics, and electrical appliances with a broad product line is Bhatia Communications & Retail (India) Limited. Along with other nearby areas where PAN Gujarat is present, it is a major player in South and Central Gujarat. Using the brands Bhatia Communication, "Bhatia Mobile - The One Stop Shop," "Only Mobile," and "Mobile Station," the company runs a network of multi-brand outlets (MBOs) and oversees the management of exclusive brand outlets (EBOs) for different brands.

The firm began selling mobile devices in 1996. It was established in 2008 with one store, and as of Q1 FY25, it has 209 stores-202 owned and 9 franchised.