892% Gains In 3 Months, Turns Rs 5,000 To Rs 50,000; Smallcap Energy Co To Declare Bonus Shares Next Week

Multibagger smallcap power generating company, Ujaas Energy is likely to announce bonus issue rewards. The announcement could take place next week as its board of directors is scheduled to meet. Ujaas Energy is currently at its new 52-week high levels. In 3 months, the stock gained by a whopping 892%, turning investments like Rs 5000 to nearly Rs 50,000.

On July 12, Ujaas Energy's share price ended at its new 52-week high of Rs 269.25 apiece, which was also its 5% upper circuit. The company's market cap is at Rs 2,835.24 crore.

Locked at a 52-week high, Ujaas Energy's share price is up by a breathtaking 13,362.5% from its 52-week low of Rs 2 apiece.

The performance comes after the company announced that the Meeting of the Board of Directors of the Company is scheduled to be held at 04:30 PM on Monday, 15th day of July, 2024 at the Registered & Corporate Office of the Company for the agendas.

Some of the agendas included are consideration for bonus issues, appointing the current director whole-time for 5 years coupled with re-appointing and remunerating another director, and also looking into various reports and certificates for FY24 among others.

It needs to be noted that Ujaas Energy's share price has been hitting back to back upper circuits, and extending impressive gains for investors. However, the stock is marked under 'trading restricted - on account of IBC/recommendation post IBC' on BSE.

Ujaas Energy's share price has been in the green since April 18. The stock had witnessed its biggest single-day rally of 257% on May 27. The last time the stock was in red was when it fell by over 98% on April 16.

On April 16th, the stock price was at Rs 27.14 apiece. Since then, it rallied by over 892%. Let's suppose an investor bought Ujaas Energy share price on this day for Rs 5,000, then their corpus is currently Rs 49,600, with gains of Rs 44,600 in such a short period.

Bonus shares are one of the many corporate actions that listed companies announce on several occasions. Bonus shares are like incentives which are free of cost given to investors. Under this corporate action, new shares are issued at the existing Face Value of equity shares of the company. Hence, the face value remains the same post-bonus issue.

Some of the very popular bonus shares ratios are -- 4:1, 1:2, 3:5, 1:10, and 5:1. It will be keenly watched if Ujaas Energy announced either of the bonus issue ratio.

To be eligible for bonus shares, investors will require to hold the respected stock in their portfolio by end of the record date. If a bonus issue is in the offing by Ujaas Energy, the record, ex-bonus, allotment details and distribution of rewards will be announced accordingly in the due course.

Ujaas Energy Limited is engaged in manufacturing of distribution transformers, power transformers, furnace transformers and special purpose transformers for more than 3 decades. The company sells their products to various State Electricity Boards, Public Sector Undertakings, Private sector companies engaged in Generation and Distribution of Electricity and other Industrial undertakings engaged in Steel, Power, Textile, Coal & Mine, Infrastructure, Engineering & Automobile Sectors etc.