Smallcap IT company, Saksoft will be in focus ahead, as the share price will turn ex-bonus soon for the reward in the ratio of 1:4. Meaning, that Saksoft will give 1 free share on the existing for 4 shares to its eligible shareholders. There are only 8 days left for eligibility. Currently, the stock is around Rs 310 levels.
Saksoft Share Price:
The stock price ended at Rs 312 apiece, down by 1.5% on BSE with a market cap of Rs 3,120.50 crore. The stock is still near its 52-week high of Rs 3,120.50 apiece, while it is trading higher from its 52-week low of Rs 210 apiece.
YTD, the stock is in a bearish tone with a drop of 2.3%. However, in the past six-months, the stock has gained momentum and surged by nearly 36%. In 5 years, the stock price has skyrocketed by a whopping 1,163.87%.
Saksoft Bonus Issue:
The company has announced a bonus issue of 1:4. The ratio would mean that Saksoft will issue one new bonus equity share of Re. 1/- each fully paid up for every four existing equity shares of Re. 1/- each fully paid up subject to the approval of shareholders through Postal Ballot.
The company has revised its record date for determining the eligibility of Shareholders entitled for issuance of fully paid-up Bonus Shares. The new record date is now set on Thursday, September 19, 2024, from earlier Friday, September 13, 2024.
Saksoft said that free reserves and a Security Premium of Rs. 2,65,10,250 are required for the implementation of the Bonus Issue.
The company plans to allot bonus issues within two months from the date of approval of the board, which would arrive on October 6, 2024.
Saksoft Results:
In Q1FY25, the company posted a total income of Rs 203.78 crore, compared to Rs 185.03 crore in the same quarter a year ago. While PAT is at Rs 25.58 crore in the first quarter for FY25, as against PAT of Rs 25.15 crore in Q1 of FY24. Basic earnings per share stood at Rs 2.53.
About Saksoft:
A leading computer and software services provider, Saksoft offers digital transformation solutions in Europe, the United States, the Asia Pacific, and internationally. The company is engaged in digital intelligence framework, Agile/waterfall/hybrid delivery models, and training and support among other services.
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