IT Sector Stock Approves Bonus Issue; Shares Give 335% Return In 3 Years

Leading IT Enabled Services sector stock eClerx Services Ltd has approved bonus issue on August 9, 2022. The company has a market capitalization of Rs 7,800.21 crore. The stock gained 1.35% after the company approved bonus issue proposal.

eClerx provides business process management, automation and analytics services to a number of Fortune 2000 enterprises, including some of the world's leading financial services, communications, retail, fashion, media & entertainment, manufacturing, travel & leisure, and technology companies. Check key highlights related to bonus issue below:

1. eClerx Services Ltd Approves Bonus Issue

The board of directors of eClerx Services Ltd stated in their regulatory filing, "Approved the issuance of Bonus Equity Shares in the proportion of 1 (one) new fully paid up equity share of Rs. 10/- (Rupees Ten Only) each for every existing 2 (two) equity shares of Rs. 10/- (Rupees Ten Only) each held by the members as on the record date, subject to shareholders' approval through Postal Ballot. Additional details as required as per Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 is attached herewith as Annexure I."

The company has also approved the increase in Authorised Share Capital of the Company from the existing Authorised Share Capital of Rs. 50,01,00,000/- (Rupees Fifty Crore One Lakh Only) divided into 5,00,10,000 {Five Crore Ten Thousand) Equity Shares of Rs. 10/- (Rupees Ten Only) each to Rs. 100,00,00,000/- (Rupees One Hundred Crore Only) divided into 10,00,00,000 (Ten Crore) Equity Shares of Rs. 10/- (Rupees Ten Only) each and Consequential Alteration in the Capital Clause of the Memorandum of Association, subject to shareholders' approval through Postal Ballot.

2. eClerx Services Ltd Stock Outlook

The current market price of the stock on BSE is Rs 2305 apiece with a 52-week high of Rs 2970 apiece and 52-week low of Rs 1769 apiece. The stock gained 1.35% in today's trading (August 9, 2022). The stock has gained 6% in 1 week and 12% in 1 month. The stock has gained 335% in 3 years and 84% in 5 years.

3. eClerx Services Ltd Dividend History

It has been maintaining a good dividend history and regularly declared dividend in the last 5 years. It has a dividend yield of 0.04%. It has declared an equity dividend of 10% or Re 1 per share for the year ending March 2022.

4. eClerx Services Ltd Overview

The company serves several industries that may include cable and telecommunication, retail, fashion, media and entertainment, manufacturing, software, and high tech, among others. Its customizable services and solutions optimize the way companies conduct business by streamlining processes and improving business performance. eClerx was founded in 2000 by Anjan Malik and PD Mundhra with the goal of transitioning, managing and transforming complex business processes. It has a market capitalization of Rs 7,686.72 crore.