1:1 Bonus Share: Penny Stock Hits Upper Circuit On Allotment Update, Shares Jump 17.81%

Small cap company operating in civil construction industry, PVV Infra Ltd shares today touched 3rd consecutive upper circuit. Current market price of PVV Infra shares on BSE is Rs 9.99 per share on BSE. PVV Infra shares zoomed 17.81% in last 1-week and rose 87% in last 1-year. The small cap firm recommended 1:1 shares and fixed August 20, 2024 as the record date. Its market capitalisation stood at Rs 57.50 crore.

PVV Infra shares also hit 52-week high yesterday on BSE after shares traded ex-bonus on August 20. Today the Board of the company made allotment of bonus shares, according to its BSE filing. Check details below:

PVV Infra Allots Bonus Shares: As per the exchange filing of the company issued on August 21, "the Board of Directors of the Company in their meeting held today has made allotment of 2,87,77,083 fully paid-up Bonus Equity Shares of Rs. 10/- each in the ratio 1:1 One Equity Share of Rs. 10/- each for every One Equity Share of Rs. 10/- each held by the shareholders of the Company as on the record date (August 20, 2024), in accordance with SEBI (ICDR) Regulations, 2018 and applicable rules."
Accordingly, the paid-up equity share capital of the Company has increased as follows:
Pre-Allotment: 2,87,77,083 equity shares of Rs. 10/- each, amounting to Rs. 28,77,70,830/-

Post-Allotment: 5,75,54,166 equity shares of Rs. 10/- each, amounting to Rs 57,55,41,660 /-."

PVV Infra Shares Performance: PVV Infra shares gained 32% in last 2-weeks, slipped 35% in last 3-months, again declined by 15% in last 6-months, zoomed 87% in last 1-year, and offered returns of 248% in last 3-years. The 52-week high price of PVV Infra share on BSE is Rs 17.91 per share (as on 29/04/2024) and 52-week low price is Rs 5.29 per share (24/08/2023), respectively.

Bulk Deals: As per details available at Trendlyne, "the latest bulk deal for PVV Infra took place on August 14, 2024 on BSE. 200,000 shares were traded at an average price of Rs 16.95." Earlier, a bulk deal for PVV Infra Ltd took place on June 21, 2024 on BSE. A total of 226,000 shares were traded at an average price of Rs 23.68.

Shareholding Pattern: Promoters holding remains unchanged at 26.65% in June 2024 quarter. FII/FPI have decreased holdings from 0.48% to 0.09% in June 2024 quarter. Number of FII/FPI investors remains unchanged at 1 in June 2024 quarter.

PVV Infra Financials: The company for the quarter ended June 2024 declared its net profit at Rs 4.82 crore, up 48,100% as against the net profit of Rs 0.01 crore declared in the corresponding quarter of last year. PVV Infra announced a fall of 36.87% in its sales to Rs 21.39 crore for the June quarter as compared to Rs 33.88 crore announced in the similar quarter of last year.

About: PVV Infra offers engineering, designing, planning, and execution of infrastructure work. It owns, builds, operates, and transfers power generating plants. The company is also engaged in the construction of houses, industrial parks, multiplexes, shopping complexes, and townships, among others.

Disclaimer: The stock highlights the bonus share, stock split and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.