Multibagger IT Sector Stock To Consider Bonus Issue Proposal, Shares Gain 8% In 1 Week

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. The stock is currently in news as the board of eClerx Services Ltd announced on August 2, 2022 that it would consider bonus issue proposal. Check key highlights pertaining to bonus issue, stock outlook, and company's overview below:

1. eClerx Services Ltd To Consider Bonus Issue

The board of directors of eClerx Services Ltd are scheduled to hold a meeting on August 9, 2022 to consider issuing the proposal of bonus equity shares. The board of directors said in their BSE filing dated August 2, 2022, "This is to inform you that a Meeting of Board of Directors of the Company will be held on Tuesday, August 9, 2022 inter-alia: (1). to approve and take on record the Un-audited Financial Results (Consolidated and Standalone) of the Company for the quarter ended June 30, 2022. (2). to consider the proposal for issuance of Bonus equity shares of the Company."

2. eClerx Services Ltd Stock Outlook

The current market price of the stock on BSE is Rs 2272 apiece with a 52-week high of Rs 2970 apiece and 52-week low of Rs 1769 apiece. The stock gained sharply yesterday following the announcement of the proposal to consider issuance of bonus share. The stock gained 14% yesterday to close at Rs 2505 apiece. Meanwhile, the stock has fallen 0.86% in trading today so far (12:54 pm). The stock has gained 8% in 1 week and 19% in 1 month. The stock has gained 291% in 3 years and 79% 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.