Varun Beverages and NINtec SYSTEMS shareholders should keep an eye on their stocks next week, as both will become ex-bonus, while G G Engineering shareholders should be aware of a stock split that will occur next week. The stock market’s reaction to these three corporate measures will be revealed in the second week of June.
List of shares you must check on
Bonus shares in a 1:2 ratio have been authorised by the firm, with the record date that is set for 07 June 2022 and the stock trading ex-bonus on 06-06-2022. “This is to inform you that, according to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, in the year 2015, the Board of Directors has fixed Tuesday, June 7, 2022, to be noted as the Record Date.
For the purpose of determining the eligibility of all the shareholders entitled to the issuance of Bonus Equity Shares of the Company that is also noted in the proportion of 1 (One) Equity Share of Rs. 10/- per for each and every 2 (Two) existing Equity Shares,” the company said in a BSE exchange.
Varun Beverages is trading stronger above the 5 days, 20 days, 50 days, 100 days, and 200 days moving averages today, with a market price of 1,115.75.
Varun Beverages NSE 2.70 per cent got a buy call from Axis Securities with a target price of Rs 1200. Varun Beverages is currently trading at Rs 1087.75 in the market. According to experts, Varun Beverages Ltd.’s price can reach the set objective in one year.
Varun Beverages Ltd NSE 2.70 per cent was founded in 1995 and is a Large Cap business in the FMCG industry with a market cap of Rs 47228.75 crore. For the fiscal year ending December 31, 2020, Varun Beverages Ltd’s primary products/revenue segments are Beverages, Other Operating Revenue, and Other Services.
Despite adverse global cues, the brokerage is optimistic about VBL’s performance in the following months, citing peak summer season demand as well as operating leverage from volume offtake in CY22E/CY23E. Other key growth drivers include:
- Strong execution in under-served territories in the South, West, and East (penetrating semi-urban/rural areas with better refrigeration infrastructure and VC placements).
- Market share gains.
- Debt reduction and healthy cash flow generation.
- Expansion into new international geographies (Democratic Republic of Congo).
It retains a BUY rating with a target price of Rs 1,200 per share, valuing the stock at 36 times March-24E EPS.
The corporation has approved a bonus share in the ratio of 1:2. The stock will also become ex-bonus on June 6, 2022, and the record date has been set for June 7, 2022.
“In appreciation of continued support from Shareholders of the Company, the Board of Directors at its meeting held on April 21, 2022, subject to the consent of all Members of the Company who are approved and recommended issue of Bonus Equity Shares of the face value of Rs. 10/- (Rupee Ten only) each.
“The company said in a BSE exchange filing, credited as fully paid-up equity shares to eligible members of the Company in the proportion of 1 (One) new fully paid-up equity share with a face value of Rs. 10/- (Rupee Ten only) for every 2 (Two) existing fully paid-up equity shares with a face value of Rs. 10/- (Rupee Ten only) held by members of the Company, by capitalising a sum of Rs. 3,44,00,000/ (Rupees Three Crore).
Currently, the stock is trading at 46.35, up 4.98 per cent from its previous close. During the past week, the stock has gained by 21%.
G G Engineering
The record date for the purpose of dividing the nominal value of the Company’s equity shares from Rs. 2/- (Rupees Two) to Re. 1/- (Rupee One) per share has been set for Thursday, June 9, 2022. This penny stock has lost a total of 75.68 per cent in a year, and year-to-date (YTD) in 2022, it has lost 57.53 per cent.
The stock has plummeted 66.35 per cent in the last six months, and it has declined 1.12 per cent in the previous month. The stock is now trading higher than the 5 day and 20-day moving averages but lower than the 50 days, 100 days, and 200 days moving averages at its current market price of 5.30, representing a 5.58 per cent upside gap today.
Edited by Prakriti Arora