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Buy This Large Cap Stock To Receive 5 Bonus Shares For Every 1 Share Held
Board of FSN E-Commerce Ventures Ltd that runs Nykaa, a leading e-commerce company, approved bonus issue in the ratio of 5:1. The shares of the company soared 0.65% intraday at 1313 apiece. The company has fixed November 3, 2022 as the record date to determine members eligible for bonus equity shares.
The company has a market capitalisation of Rs 62,325.34 crore at the time of writing the story. Check key takeaways below:
1. FSN E-Commerce Ventures Ltd Approves Bonus Issue
The board of directors of the company stated in the exchange filing, "In continuation to our intimation dated September 28, 2022, we hereby inform that the Board at its Meeting held on October 03, 2022, inter alia, has approved the following business items: Bonus Issue of Equity Shares in the proportion 5 (Five) fully paid-up Equity Share of ₹ 1/- each for every 1 (One) fully paid-up Equity Shares of ₹ 1/- each held by the shareholders of the Company as on the record date, subject to shareholders' approval by way of postal ballot. Fixation of Thursday, November 03, 2022, as the record date for the purpose of determining members eligible for Bonus Equity Shares."
2. FSN E-Commerce Ventures Ltd Stock Outlook
The current market price of the stock is Rs 1308 apiece with an intraday gain of 0.65%. The stock's 52-week high is Rs 2574 apiece and 52-week low is Rs 1208 apiece, respectively.
FSN E-Commerce Ventures Ltd Market Capitalisation
The large cap company has a market capitalisation of Rs 62,325.34 crore.
4. FSN E-Commerce Ventures Limited Latest Quarterly Results
The company for the quarter ended June 30, 2022 announced a consolidated total income of Rs 1,156 crore, up 17% from previous quarter total income of Rs 984 crore. It declared a net profit after tax at Rs 5 crore in the latest quarter.
5. About FSN E-Commerce Ventures Limited
FSN E-Commerce Ventures Limited is a small cap consumer technology platform provider. It operates in Services sector.
It is engaged in the business of producing, selling and distribution of beauty, wellness, fitness, personal care, health care, skin care, hair care products, fashion garments, fashion accessories and equipment, among others.
Disclaimer
The above stock has approved bonus share and declared record date to determine eligibility of shareholders for bonus share. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.
