100:10 Split, 4:1 Bonus Record Date Set: Rs 56,011 Penny Stock Rises By Rs 11,307 In 12 Days; 200% Gains YTD

Incorporated in the pre-Independence era and backed by Salzer Electronics Ltd, Kaycee Industries, a penny stock has been on a winning streak for 12 consecutive days, rising by Rs 11,307.25 or over 25% during these days. Kaycee is currently one of the most expensive penny stocks, trading at a little over Rs 56,000 per share on BSE. The latest upside can be attributed to the company's upcoming hefty bonus shares and stock split.

The stock will be in focus in the coming days due to its record date for stock split and bonus issue which is fixed in the first week of July.

Kaycee Industries Share Price:

On June 21, Kaycee Industries' share price stood at Rs 56,011.05 per share with a market cap of Rs 355.50 crore. On this day alone, Kaycee's stock rose by a whopping Rs 1,098.25.

From June 17-21st trading session, Kaycee's stock gained by Rs 4,265.45 or 8.24%. While in a month, the stock zoomed by Rs 12,131.15 or 27.65%. Year-to-day, Kaycee stock rallied by a breathtaking Rs 37,511.05 or 203%. The stock was around Rs 18,500 per share level at the start of January month.

Kaycee has been on the gaining spree since June 4, 2024. While the stock has been hitting back-t0-back 2% upper circuits since June 11, 2024. In 12 consecutive sessions, the stock climbed by Rs 11,307.25 or 25.3% on BSE.

Kaycee Industries Stock Split:

The company is splitting in the ratio of 10:1. 1 equity share having a face value of Rs 100 will be subdivided into 10 smaller shares with a face value of Rs 10 each.

The record date for the stock split is fixed on July 6, 2024. Only those shareholders will be eligible who hold Kaycee shares as of July 6, 2024.

Generally, share splits mean that listed companies can split their existing shares into a ratio decided by them for a host of reasons. These could be done to improve liquidity, lessen the value of the stock, make it cheaper or simply attract new buying from both existing and new investors.

Kaycee Industries Bonus Issue:

Alongside the stock split, Kaycee has also announced to reward bonus shares in the ratio of 4:1. Meaning, the company will reward four bonus equity shares having a face value of Rs 10 each to every 1 equity share held by investors which has a face value of Rs 10 each as well.

The record date for the bonus issue is also fixed on July 6, 2024.

Bonus shares are one of the many corporate actions that listed companies announce on several occasions. Bonus shares are like incentives which are free of cost given to investors. Under this corporate action, new shares are issued at the existing Face Value of equity shares of the company. Hence, the face value remains the same post-bonus issue.

About Kaycee Industries:

Kaycee Industries Ltd is a more than 75-year-old pre-independence incorporated Company, presently a subsidiary of Salzer Electronics Ltd. Kaycee is known to be the First Indian manufacturer of Rotary Switches and started manufacturing in the year 1942.

Kaycee Industries Ltd, a Mumbai-based listed company is a leading Electrical Product manufacturer and solutions provider to various industry sectors like the Power sector, Panel builders, Machine tool manufacturers, Telecom, Renewables etc.