2:1 Bonus Issue: Finance Stock Hits Multiple Upper Circuits, Gains 49% In 30-Days

Finance sector company Paul Merchants Ltd shares have been witnessing multiple upper circuits in last couple of days. The stock also traded several 52-week high as well ever since the company approved 2:1 bonus share. Paul Merchants shares gained 49% in last 1-month ever since its board approved bonus share on November 11 in the ratio 2:1. Paul Merchants shares jumped 88% in last 3-months and nearly doubled investors money in last 6-months with the return of 176%. Check details below:

Paul Merchants Revises Record Date For 2:1 Bonus Share: According to the BSE filing of the company issued as on December 5, 2023, "please be informed that the Record Date for the purpose of ascertaining the eligibility of equity shareholders entitled for allotment of Bonus Shares of the Company in the ratio of 2:1, i.e. 2 (Two) equity shares of Rs. 10/- each for every 1 (one) existing equity share of Rs. 10/- is hereby revised from Monday, December 18, 2023 to Tuesday, December 19, 2023 in compliance with the provisions of Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read over with applicable provisions of the Companies Act, 2013."

Paul Merchants Stock Performance & Return: Current market price of Paul Merchants share on BSE is Rs 3609.30 apiece with intraday gain 2.00%. The stock has been hitting back-to-back upper circuits and 52-week high ever since December 4, 2023. Paul Merchants shares gained 176% in last 6-months, soared 178% year-to-date, rose 177% in last 1-year, and offered gain of 134% in last 2-years. In last 3-years, Paul Merchants shares jumped 158%.

Paul Merchants Financial Results: The company for the quarter ended September 30, 2023 announced its net sales at Rs 1,799.03 crore, up 3.66% from Rs 1,735.59 crore declared in the corresponding period of last year. The company declared its quarterly net profit at Rs 7.56 crore in September 2023, up 5.93% from Rs 7.14 crore announced in the corresponding period of last year. Its EBITDA stood at Rs 11.06 crore for the quarter ending September 2023, up 9.4% from Rs 10.11 crore declared in the same period of September 2022.

Paul Merchants About: The Company is a Public Limited Company with its scripts listed on Bombay Stock Exchange. The Corporate cum Head office of the Company is at Chandigarh. It holds licenses issued by Reserve Bank of India to act as Authorized Dealer Category II and is a prominent Sub-Agent of EBIX Money Express (P) Ltd for providing inbound International Money Transfer services. Further PML is an IATA accredited Travel Agency, according to its official website.

Disclaimer:

The stock just highlights the bonus share 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.