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This penny stock recommends 74:100 bonus issue: Details inside

Relicab Cable Manufacturing Company has a market capitalization of 30 Cr. It is a well-regarded manufacturer and supplier of industrial cables. The company’s Board of Directors has recommended a bonus share in the ratio of 74:100, subject to approval by the shareholders.

The company has said in BSE exchange filing that “Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015 we hereby inform you that the Board of Directors at their Meeting held today i.e. 10′” June, 2022 has, inter alia considered and approved the following:”

Issue of Bonus shares in the ratio of 74:100 (seventy-four) fully paid-up equity shares for every 100 (hundred) existing fully paid-up equity share held by the shareholders, subject to the approval of the shareholders of the Company;

Migration of Listing/Trading of Company’s present listing from SME Platform of BSE Limited to the Main Board of BSE Limited as well as on Main Board of NSE Limited interns of Chapter IX of SEBI (ICDR) Regulations, 20 18 subject to approval of the shareholders of the Company, BSE Limited, National Stock Exchange of India Limited, or such other authorities.

Approval of Postal Ballot Notice: and

Appointment of Scrutiniser for scrutinising the postal Ballot process in a fair and transparent manner.

The last traded price of the stock was 53.00 and in the last 1 year, the stock has given 39.47% returns to its shareholders. On a year-to-date (YTD) basis, the stock has given 29.27% return so far in 2022.

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