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Saianand Commercial involved in other wholesale business is a multibagger and at the same time penny scrip. The company in its board meet held today announced bonus share issue in the ratio of 1:1. In te filing with the exchanges the company said, "This is to inform that the Board of Directors at its meeting held on Thursday, 25th August, 2022 have approved and recommended the issuance of fully paid-up Bonus Shares in the ratio of 1:1 ( 1 (one) fully paid up equity share for every 1 (one) fully paid up equity share held, subject to the shareholders' approval through Postal Ballot".
The company in the annexure provided in relation to bonus issue said he Bonus equity shares will be issued out of profits or share premium account. Securities Premium available as on 3rt March, 2022
Earlier the company has also announced stock split that results in the splitting of the company's shares into more number of outstanding shares. The stock split was announced in the ratio of 1:10 i.e. the face value shall be reduced from Rs. 10 per share into shares of Rs. 1 each. For the same, the record date had been August 17, 2022.
The company's stock price in 1-year has run up by 179%. The company's 52-week low and high are Rs. 0.88 and Rs. 2.08 per share. Last the company after bonus issue declaration ended higher by over 4% at Rs. 1.63 per share.
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