Big Investor Boost! 2:3 Bonus Shares Confirmed - Bullish Signal For Investors Ahead of Record Date 18th March?

Cotton and blended yarns are produced by the publicly traded Padam Cotton Yarns Limited (PCYL) listed on both NSE and BSE. Its headquarters are in Karnal, Haryana, and it was incorporated in 1994. The stock wrapped up Thursday on the BSE 0.57% down at Rs 156.35 a share, with a market capitalisation of Rs 121.11Cr, after the Board of Directors of Padam Cotton Yarns announced 2:3 bonus shares with a record date falling in March.

Padam Cotton Yarns Bonus Shares Record Date

"In pursuant to the Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015, we are hereby submitting outcome of the board meeting of Padam Cotton Yarns Limited held today i.e., Tuesday, 25th February, 2025, inter alia, has considered and approved Tuesday, 18th March, 2025 as the 'Record Date' for the purpose of ascertaining the eligibility of Shareholders entitled for Issuance of Bonus Equity Shares of the Company in the ratio of 2:3 i.e. Two (2) Bonus Equity Share of face value of Rs. 10/- each for Three (3) existing Equity Share of face value of Rs. 10/- each," said Padam Cotton Yarns in a stock exchange filing.

Padam Cotton Yarns Bonus Issue Approval

"Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), this is to inform that the members of the Company at the Extraordinary General Meeting held on Monday, February 24, 2025, at 12:00 p.m., at the Registered Office of the Company have approved the Issuance of Bonus Equity Shares in the ratio of 2:3 i.e. Two (2) Bonus Equity Shares of face value of Rs. 10/- each for every Three (3) existing fully paid-up Equity Share having face value of Rs. 10/- each, held by the eligible Shareholders of the Company as on the Record Date, subject to other statutory/regulatory approvals, consents, permissions, conditions, and sanctions, as required," Padam Cotton Yarns informed stock exchanges.

Padam Cotton Yarns Share Price Target

"Padam Cotton stock price is sideways to bearish on the Daily charts with strong resistance at 165. A Daily close below support of 151 could lead to a target of 132 in the near term," recommended A R Ramachandran, Independent Research Analyst.

Disclaimer

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