3 Bonus Stocks To Buy: Invest In these Stocks To Receive Bonus Shares In November

Board of three companies have recommended issuance of bonus shares. These companies are FSN E-Commerce Ventures Limited, Ozone World Ltd, and Gloster Ltd. If you buy the stocks now, you can expect to receive bonus shares in November. Check key takeaways below:

1. 1. FSN E-Commerce Ventures Revises Record Date For 5:1 Bonus Shares

FSN E-Commerce Ventures Limited, running the beauty and personal care business under Nykaa vertical, has revised the record date for bonus issue of 5:1 bonus share. The new record date of the bonus issue is now November 11, 2022. The board of directors of FSN E-Commerce said in the regulatory filing, "We refer to our letter dated October 03, 2022 regarding issue of Bonus Equity Shares of the Company in the ratio of 5 (Five) fully paid-up Equity Shares of ₹ 1/- each for every 1 (One) fully paid-up Equity Share of ₹ 1/- each, subject to approval of shareholders by way of Postal Ballot and inform that pursuant to Regulation 42 of SEBI Listing Regulations, the Board of the Company has fixed Friday, November 11, 2022 as the 'Record Date' for the purpose of determining the members eligible for Bonus Equity Shares."

The last trading price of Nykaa is Rs 983 apiece with 52-week high at Rs 2574 and 52-week low at Rs 975. The stock is currently trading very near to its 52-week low levels. It has a market capitalisation of Rs 46,655.62 crore.

According to Kotak Institutional Equities, ""Nykaa's BPC business should continue to be unaffected, as it is an advertising platform itself; the fashion business could see elevated ad spends. We bake in delayed profitability of this vertical, resulting in a 16-21 per cent cut in the FY2023-25 EPS and a new FV of Rs 1,640. The stock price correction is an opportunity to BUY."

Meanwhile, yet another leading brokerage house Nomura India began coverage on the stock with a target of Rs 1,365, factoring in an 18 per cent revenue growth compounded annually over FY25-40 into its target.

2. Gloster Ltd

Board of the small cap stock that operates in Textile sector has recommended issuance of bonus share. The board of directors of Gloster in the regulatory filing said, "This is to inform you that a Meeting of the Board of Directors of the Company will be held on Monday, the 7'^ November, 2022 to consider amongst other businesses: 1. The adoption of the Un-audited Financial Results for the half year ended 30th September, 2022. 2. Declaration of Bonus Shares to the equity shareholders of the Company.

The last trading price of Gloster stock is Rs 1154 apiece with 52-week high at Rs 1350 apiece and 52-week low at Rs 850 apiece, respectively. The company has a market capitalisation of Rs 631 crore. The stock has given a return of 87% in last 3-years and 4% in last 1 month.

Small-cap company Gloster Ltd is engaged in manufacturing and exporting of all types of jute & jute allied products, woven & non-woven jute geotextiles, treated fabric-rot proof, fire retardant, jute products for interior decoration and packaging of industrial and agricultural produce.

3. Ozone World Ltd

The board of Ozone World recently recommended issuance of bonus issue. The board of directors of Ozone World stated in its regulatory filing, "Recommend for issue up to 25,89,380 (Twenty Five Lakh Eighty Nine Thousand Three Hundred Eighty Only) equity shares of Rs. 10/- each as bonus shares of an aggregate nominal value up to Rs. 2,58,93,800/- (Rupees Two Crore Fifty Eight Lakh Ninety Three Thousand Eight Hundred Only), as bonus shares to the shareholders out of the Securities Premium Account of the company for distribution among the holders of existing fully paid equity shares of Rs. 10/- each of the company."

The last trading price of Ozone World is Rs 8.30 apiece with 52-week high at Rs 18.99 and 52-week low at Rs 6 apiece, respectively. The stock has declined 76% in the last 5 years. It has given a return of 15% in last 1 year, 3% in last 3 months, and 6% in last 1 week. The company has a market capitalisation of Rs 3.07 crore as of writing the report.

 

Disclaimer

The stocks have been picked from the brokerage reports of Kotak Institutional Equities and Nomura India. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.