3:1 Bonus, Record Date - Oct 23: Penny Stock In Focus Next Week, Bonus Allotment Date Set; 72% Up In 12 Months

Grovy India Ltd, a residential commercial developer, will be in focus next week for its bonus issuance. The company is going to reward bonus shares in the ratio of 3:1, and the record date is nearing. Ahead of the bonus issue, Grovy India touched back-to-back new highs and upper circuits, skyrocketing by 72% in just 12 sessions. YTD, Grovy India becomes a 2024 multi-bagging penny stock with an upside of nearly 158%.

Grovy India Share Price:

On BSE, Grovy India shares ended at 5% upper circuit to Rs 280.50 apiece, which is also its new all-time high. The company's market cap is about Rs 93.52 crore as of October 18, making it a multibagger of 2024.

Grovy shares have been hitting upper circuits for 11 sessions now, from October 7th to October 18th. The last red zone for the stock was on October 4th at Rs 163.30 apiece. Since then, the stock has rallied by nearly 72% on the BSE.

In the current trading week alone, from October 14-18, Grovy India stock zoomed by 21.5% on BSE. While in a month, the stock is up by 82%. YTD, the stock skyrocketed by 157.58%. The stock was merely at Rs 108.90 apiece at the start of the year.

Data from BSE showed that Grovy India stock's price-to-equity ratio is at 159.86x, while its return on equity is at 3.10%.

Grovy India Bonus Issue:

The bonus issue ratio is 3:1. And for that Groovy India has fixed Wednesday, 23rd October 2024 as the Record Date for ascertaining the shareholders eligible for allotment of Bonus Shares in the ratio of 3:1, i.e. 3 (Three) Bonus Equity Shares of Re. 10/- each fully paid-up for every 1 (one) existing Equity Share of Re. 10/- each held as on the above-mentioned record date.

Also, the company's board meeting is scheduled for October 24, where the members will consider and approve the allotment of Bonus equity shares.

This will be the first bonus issue by the company.

About Grovy India:

Grovy India Limited was established in the year 1985, with the purpose of developing extraordinary real estate properties that would change the scenario of the construction industry. Equipped with teams of skilled and experienced engineers, architects, planners and designers Grovy has established itself as developer of 'Boutique Apartments'.

So far, Grovy India is active as one of the Top Builders in South Delhi with many luxury housings developed by our team. Due to the overwhelming response from our esteemed customers, we have ventured into Delhi/NCR to the holy reverie of Rishikesh.

While foraying successfully in the construction of World-Class residential spaces, Grovy India has a vision to expand into the development of high-rise residential complexes, group housing societies, retail, commercial and hospitality spaces.