Bonus Issue On Dec 9: Small Cap Stock Under Rs 14 Falls 20% YTD, Soars 151% In 3-Yrs

Board of directors of small cap company operating under gems & jewellery sector, Kanani Industries Ltd are scheduled to meet on December 9, 2023 to recommend and approve bonus shares to the equity shareholders of the company. Last trading price of Kanani Industries is Rs 7.45 per share with intraday gain of 0.27%.

Kanani Industries shares declined 20% year-to-date and gave return of 150% in last 3-years. Check details below:

Kanani Industries Likely To Recommend Bonus Share: According to the BSE filing of the company issued on December 2, 2023, "We would like to inform you that a meeting of the Board of Directors of the Company is scheduled on Saturday, December 09, 2023 at 2.00 P.M. at Registered Office of the Company to consider and approve the following matters:

1. To recommend and approve issue of Bonus Shares to the existing Equity Shareholders of the Company, subject to members approval;
2. To consider and approve the appointment of new Auditors;
3. To increase in authorized capital, subject to members approval;
4. To finalize the date, venue and time for convening the Extra General Meeting of the Members of the Company;
5. To finalize the record date;
6. To consider appointment of Scrutinizer to oversee the e-voting process of the Company at the Extra Ordinary General Meeting;"

Kanani Industries Stock Performance & Return: Last trading price of Kanani Industries share on BSE is Rs 7.45 per share. Its 52-week high price is Rs 13.75 per share and 52-week low price is Rs 5.43 apiece, respectively. The company has a market capitalisation of Rs 73.71 crore. Kanani Industries stock gained over 5% in last 3-months, fell 20% year-to-date, fell 5% in last 2-year, and rallied 150% in last 3-years. In last 5-years, Kanani Industries shares gained 28%.

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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