1:1 Bonus Issue: Penny Stock Issues Update On Bonus Share, Hits Upper Circuit

Small Cap stock priced under Rs 10, Danube Industries Ltd hit upper circuit in trade today after shareholders approved 1:1 bonus issue. Last trading price of Danube Industries share is Rs 8.92 apiece with intraday gain of 4.94%. Danube Industries shares rallied 31% in last 6-months, rose 774% in last 3-years, and offered return of 1927% in last 5-years. Check details below:

Danube Industries Issues New Update On Bonus Issue: As per the BSE filing dated October 4, "With reference to the above, we pleased to inform you that at the Annual General Meeting of the Members of Danube Industries Limited held on 11th September, 2023 shareholders have approved the issue of bonus shares @ 1 (One new Bonus Share for Every One existing share held):. The record date for bonus shares was 20th September, 2023."

Danube Industries Stock Outlook & Return: Last trading price of Danube Industries stock is Rs 8.92 apiece on BSE. Danube Industries shares hit back to back upper circuits on October 3rd and October 4th. Danube Industries also witnessed spurt in volume by 3.59 times. It has a market capitalisation of Rs 53.52 crore. Danube Industries stock fell 52% in last 1-year, gave return of 56% in last 2-years, soared 774% in last 3-years when Sensex rose 68%. In last 5-years, Danube Industries stock rallied 1927% and Sensex gained 85% in comparison.

Danube Industries Financials: The company for the quarter ended June 30, 2023 announced its standalone total income of Rs 16.16 crore, down 46.91% as compared to last quarter Total Income of Rs 30.45 crore. It declared its recent quarter net profit after tax of Rs .38 crore.

Danube Industries About: It is a leading IT hardware engineering company in India that serves customers, system integrators, enterprises, and others. It caters to POS systems, networking products such as wires and cables, P&L devices, circuits, and various parts, all available from Information Technology & Hardware division. In addition, the company emphasises security and CCTV devices, providing anti-virus, firewall, CCTV, VDP, and an integrated navigation suite for vessels, according to its official website.

Disclaimer: The stock just highlights the bonus share 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.