Trading of 63,69,611 Bonus Shares In 1:4 Ratio: Q2 Results On November 12; BUY/SELL?

Mindteck (India) is a multinational engineering and technology solutions company with operations in the US, Canada (Ontario), India (Bengaluru, Kolkata, Mumbai), the Middle East (Bahrain), Europe (United Kingdom and Germany), and the Asia-Pacific region (Singapore, Malaysia, and Philippines). Bengaluru and Kolkata are the locations of the two development centres of the company. Mindteck is one of the founding members of the Centre for International Development (CID) at Harvard University, which established "The Atlas of Economic Complexity."

Trading of Mindteck Bonus Shares

"This is to inform you that the Company has received the Trading approval from BSE Limited and National Stock Exchange of India Limited for Bonus Issue in the ratio of 1:4 i.e., 1 (One) new fully paid-up equity share of Rs. 10/- each for every 4 (Four) existing fully paid-up equity shares of Rs. 10/- each held by them as on September 20, 2024 (Record date)," said the company in a stock exchange filing.

"This is with reference to the application for the listing of further issue of 6369611 Equity Shares of Rs.10/- each allotted under Bonus made by the company. We are pleased to inform you that the above equity shares of the Company are listed and admitted to dealings on the Exchange from October 08, 2024," Mindteck informed stock exchanges.

"We wish to inform you that the Board of Directors of the Company has approved the allotment of 63,69,611 Bonus Equity Shares of Rs 10/- each in the ratio of 1:4 (One new fully paid-up Equity Shares of Rs 10/- each for every Four existing fully paid-up Equity Share of Rs 10/- each) held by the equity shareholders of the Company as on September 20, 2024 ("Record Date") to the existing share capital, today. The said Bonus shares shall rank pari-passu with the existing equity shares of the Company in all respects. The paid-up share capital of the Company after the above allotment is Rs. 31,84,80,540 (3,18,48,054 equity shares of Rs. 10/- each)," Mindteck confirmed in a stock exchange filing.

Mindteck (India) Q2 Result Date

"Notice is hereby given pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that the 234 th Meeting of Board of Directors of the Company is scheduled to be held on Tuesday, November 12, 2024, inter alia, to consider, approve and take on record the Unaudited Financial Results of the Company for the Quarter and Half year ended September 30, 2024. Further, the Trading Window of the Company will be closed from October 01, 2024 to November 14, 2024 (both days inclusive) as per BSE Circular No. LIST/COMP/01/2019-20 & NSE letter No. NSE/CML/2019/11, both dated April 02, 2019, and in terms of the SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended," Mindteck (India) said in a regulatory filing.

Mindteck Share Price Target

"Mindteck stock price is bearish yet oversold on the Daily charts with strong resistance at 270. Investors should buy only if a daily close is above the mentioned resistance for a target of 300 in the near term. Support will be at 260," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.