Multibagger Gems And Jewellery Sector Stock Announces Bonus Share: Key Takeaways

Veeram Securities Ltd is a wholesaler of branded jewellery and ornaments. The company is also engaged in the trading business of silver and also a distributor of readymade gold, silver Jewellery, and ornaments.

The portfolio of products includes gold and silver jewellery with or without studded precious and semi-precious stones. The stock is currently in news as it has announced bonus issue in the ratio of 1:2. Check key takeaways below:

Veeram Securities Ltd Announces Bonus Share

The board of directors of the company has stated in their regulatory filing, "We hereby inform pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that a Meeting of the Board of Directors of the Company was held on Wednesday, 10th August, 2022 at 04.00 pm at the registered office of the company. In that meeting the Board has decided the following matters: 1. Considered and approved the Un-audited financial results of the Company for the Quarter ended on 30th June, 2022. 2. The Board decided to issue bonus shares in the ratio of 1:2 i.e. one share for two shares as on the record date decided by board subject to approval of the shareholders in general meeting. 3. The Board authorized Mr. Girdharilal Pamnani to handle all the matters relating to applications and approval from RBI and any other authority for initiating activities as a NBFC and then for acquiring Banking License."

Veeram Securities Ltd Stock Outlook

The current market price of the stock is Rs 36.10 apiece with a 52-week high of Rs 57 apiece and 52-week low of Rs 12.80. It has a ROE of 10.63. The company is effectively using shareholder fund and its Return on Equity is improving. It has registered highest recovery from 52-week low.

Veeram Securities Ltd Market Capitalisation

The stock has a market capitalization of Rs 182 crore at the time of writing the story.