1:1 Bonus Share: Penny Stock Hits Upper Circuit On Ex-Bonus Day, Rallies 131% In 3-Years

Small cap company from the industry gems & jewellery sector, Kanani Industries shares today hit 5% upper circuit and witnessed a spurt in volume. The last trading price of Kanani Industries shares on BSE is quoted at Rs 5.55 apiece. Kanani Industries shares offered a return of 21% in the last 1-week span and rose 48% in the last 1 month. The company on December 9, 2023, recommended bonus shares in the ratio of 1:1. The company, on January 17 revised the record date from January 25 to January 30, 2024, for the 1:1 bonus issue. Check the details below:

Kanani Industries Revises Record Date For Bonus Share: As per the BSE filing of the Company dated January 17, 2024, revised Intimation of Record Date from 25th January 2024 to 30th January 2024 in order to determine the number of Shareholders entitled to Bonus Equity Shares in the ratio of 1:1 (i.e. One Bonus equity shares of Re.1/- each for every one equity share of Re.1/- each held by the shareholders).

Kanani Industries Stock Performance & Return: The 52-week high price of Kanani Industries shares on BSE is Rs 10.64 per share and the 52-week low price is Rs 5.43 apiece, respectively. The company has a market capitalisation of Rs 1.10 lakh crore. Kanani Industries stock gained 48% year-to-date and has risen 31% in the last 1-year. In the last 3-years the stock has witnessed a surge of more than 131%.

Kanani Industries Financials: The company declared its net sales at Rs 65.79 crore for September 2023, down 0.28% as against Rs 65.97 crore in the corresponding quarter of last year. The company announced its quarterly net profit at Rs 0.34 crore for Sept 2023, down 34.54% as compared to Rs 0.53 crore in Sept 2022. The company's EBITDA for the September 2023 quarter declined 40.48% to Rs 0.50 crore from Rs 0.84 crore in September 2022. The company's EPS fell 0.03 in Sept 2023 from Rs 0.05 in Sept 2022.

Kanani Industries About: Kanani Industries Limited (KIL) was initially incorporated on 22nd March 1983 with the Registrar of Companies Maharashtra, Mumbai, as a public limited company under the name of "Shivlaxmi Mercantile Company Limited" (later changed to IMP Finance Limited). KIL was acquired by Mr Premjibhai D. Kanani and Mr Vinubhai L. Kanani on 9th April 2007 vide change in management and control in shareholding of the company under the name IMP Finance Limited, which was subsequently changed to "Kanani Industries Limited" on October 19th, 2007 vide Certificate of Change of Name issued by the Registrar of Companies Maharashtra Mumbai, according to its official website.

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