2 Free Shares, 325% Returns In 6-Months: 40-Yrs Old Co Recommends 2:1 Bonus Issue

Board of Directors of Newtime Infrastructure Limited today recommended 2:1 bonus shares for its shareholders. The company will intimate the record date for determining eligible shareholders to receive bonus shares soon. Last trading price of Newtime Infrastructure shares on BSE is Rs 48.80 per share. Newtime Infrastructure share zoomed 325% in last 6-months and 25% in last 1-week. Check more details about bonus issue below:

Newtime Infrastructure Recommends Bonus Share: As per the regulatory filing of Newtime Infrastructure today, "Issue of 2 (Two) fully paid up bonus equity Shares for every 1 (One) existing fully paid up Equity Shares held by the Equity Shareholders of the Company as on 'Record Date'. The Bonus Issue of Equity Shares is subject to the approval of the shareholders and other applicable statutory and regulatory approvals, as may be required. The Company will intimate the 'Record Date for determining eligible Shareholders entitled to receive bonus shares, in due course of time."

Increase In Authorized Share Capital: The BSE filing added, "Subject to approval of Members of the Company, the Board has proposed to increase the authorised share capital of the Company from Rs. 25,20,00,000/-(Rupees Twenty Five Crore Twenty Lakhs) comprising of 19,20,00,000 (Nineteen Crore and Twenty Lakhs) equity shares of Rs. 1/-(Rupee One) Each and 60,00,000 (Sixty Lakhs) Preference Shares of Rs. 10/- /-(Rupee Ten) each to Rs. 63,20,00,000/- (Rupees Sixty Three Crore Twenty lakhs) comprising of 57,20,00,000 (Fifty Seven Crore and Twenty Lakhs) equity shares of Rs. 1/-(Rupee One) Each and 60,00,000 (Sixty Lakhs) Preference Shares of Rs. 10/-/-(Rupee Ten) each."

Newtime Infrastructure Share Performance: The 52-week high price of Newtime Infrastructure shares on BSE is Rs 49.82 per share and 52-week low price is Rs 8.77 per share, respectively. The company's market capitalisation is Rs 831.29 crore. Newtime Infrastructure shares surged 306% in last 1-year and 120% in last 5-years.

About: The Company commenced operations in India in July 1984 and was earlier into the development of information technology business with the name of Intra Infotech Limited and then it changed its name and main object to infrastructure business, seeing the immense growth in the sector and therefore is now into real estate development with a pan-India presence and operations spanning all key segments of the Indian real estate industry, namely the residential, commercial, and retail sectors. The Company's operations encompass various aspects of real estate development, such as land identification and acquisition, project planning, designing, marketing and execution.

Disclaimer: The stock highlights the bonus issue 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.