Circuit-to-circuit stock SC Agrotech declares 4:5 bonus, 1:10 stock split, dividend update; record date, other details

ملخص مفصل

SC Agrotech shares hit a 5% upper circuit, extending a sharp rally that included six upper circuits in a week. The company proposed a 4:5 bonus issue and a 1:10 stock split, subject to shareholder approval.

Shares of SC Agrotech Limited surged 5% during Friday’s intraday trading session after the announcement of stock split and bonus issue corporate actions, alongside corporate earnings.

SC Agrotech Limited share price surged 5% during Friday's intraday trading session and hit upper circuit. The agricultural products stock has rallied nearly 62% over the last two weeks, and it hit the upper circuit in six of the last seven trading sessions.

The company has rewarded investors with bonus issue in the ratio of 4:5. Its board of directors recommended the issue of 4 fully paid-up bonus equity shares for every five fully paid up equity shares. Only those investors who will own the stock before the record date will be eligible for the bonus issue corporate action.

SC Agrotech has fixed stock split in the ratio of 1:10, which means that every investor holding single stock (of face value ₹10) will, now own 10 stocks (with face value of Re 1 each), after the execution of stock split.

“The Board approved, subject to shareholders' approval, subdivision of each existing fully paid-up equity share of face value Rs. 10 into 10 (ten) fully paid-up equity shares of face value Re. 1 each. The proposal seeks to improve individual-share accessibility and facilitate wider investor participation,” read the BSE filing released earlier on Friday.

The board is yet to notify the record date for bonus issue and stock split corporate action.

The board has decided to consider a dividend for investors during the next quarterly board review. “The Board discussed the dividend proposal and decided to consider it at the next quarterly Board review, after evaluating the Company's capital requirements, investment priorities and other relevant factors,” read the BSE filing.

The stock rallied nearly 5% and touched upper circuit at ₹62.38 per share on BSE with a market capitalisation of ₹474.06 crore on Friday. Its share price value touched fresh 52-week high level of ₹62.38 per share today, ie on November 13.

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