Real-estate Stock Announces 3:1 Bonus, Share Rallies 6.19% In Trade Today

Modis Navnirman Ltd., a small-cap real estate stock, has announced issuing bonus shares with a 3:1 bonus ratio. Today, on October 4, the current market price of Modis Navnirman stood at Rs. 326, up by 6.19% intra-day. The latest bonus issue is attracting investors this week, share price is surging sharply. The stock has surged by 8.67% in the past 5 days. Additionally, in the last 6 months, its share price gained sharply by 72.53%.

The company has informed the stock exchanges, "Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 we hereby inform you that the Board of Directors at their meeting held on September 28th, 2022 has inter-alia considered and approved "Issue of Bonus shares in the ratio of 3:1, that is 3 fully paid-up equity shares for every 1 existing fully paid-up equity share held by the shareholders."

The 52-week high level of this stock is Rs. 359.85, and the 52-week low level of this stock is Rs. 184. This small-cap company has a market capitalization of Rs. 137 crore.

The company's pre-bonus issue paid-up share capital is Rs. 4,23,00,000 which consists of 42,30,000 equity shares of Rs. 10 each. The post-bonus issue paid-up share capital can be up to Rs. 16,92,00,000 which consists of existing 42,30,000 equity shares.

The real estate company has developed over 2.10 lakh square feet of land. They have been successfully delivering outright lands, redevelopment projects, and landlord projects.

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