1:10 Stock Split, 7:1 Bonus Shares: Multibagger Penny Stock Issues Update On Bonus Shares

Small cap company operating in the NBFC sector, Sunshine Capital Ltd shares zoomed 3.90% on March 8, 2024 to settle at Rs 3.90 per share on BSE. The company has a market capitalisation of Rs 406.25 crore. Sunshine Capital offered return of 54% in last 1-month and gained 205% year-to-date. The company earlier this year announced 1:10 stock split and 7:1 bonus issue and revised record date as March 8, 2024. Check details below:

Sunshine Capital Issues Update On Bonus Share, Stock Split: As per the regulatory filing of the company date March 9, 2024, "Pursuant to provisions of Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015, we would like to inform you that the meeting of the Board of Directors of the company held today has inter-alia approved the following businesses:

1. Approved the allotment of 911463000 Bonus shares in the ratio of 7:1 i.e., 7 (seven) Equity shares of Rs. 1/- each for every 1 (one) existing fully paid-up Equity Share of Rs. 1/- each held by the Members as on Record Date i.e. 8th March, 2024."

Sunshine Capital Shares Performance & Return: The 52-week high price of Sunshine Capital shares on BSE is Rs 3.90 per share and 52-week low price is Rs 0.45 per share, respectively. Sunshine Capital shares zoomed 188% in last 3-months, zoomed 635% in last 6-months, and offered return of 806% in last 1-year. In last 2-years, Sunshine Capital stock surged 1850%. The company has a ROE of -1.24, PE of -3.97, and EPS (TTM) of -0.98.

Sunshine Capital Technical: When it comes to momentum score, Sunshine's score is 77.91. It is technically strong. Stocks with score above 70 are considered as technically Strong. RSI is 99.5, RSI above 80 is considered strongly overbought. This implies that stock may show pullback. MFI is 100.0, MFI above 80 is considered strongly overbought. This implies that stock may show pullback.

About: Sunshine Capital Ltd is a non-banking financial company. It is engaged in investing in long-term investments such as equity shares and equity-related securities. Sunshine is engaged in buying, selling and transfer, of shares and securities of various companies in the capital markets, among others. It was established in 1994.

Disclaimer:

The stock highlights the bonus shares, stock split, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.