2:1 Bonus Shares: Record Date For 2 Stocks This Week; Buy Any?

Given that DRC Systems India and Rajshree Polypack shares are trading ex-bonus this week, traders will likely be keeping an eye on both firms in consideration of upcoming bonus shares. Eligible shareholders will get two new or additional shares for each share they hold in their portfolio as of the record date since the two companies have declared bonus shares in a 2:1 ratio. February 26 is the record date for Rajshree Polypack bonus shares, whereas February 27 is the record date for DRC Systems India bonus shares.

Rajshree Polypack Bonus Shares

"Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Monday, February 26, 2024 as the "Record Date" for the purpose of determining entitlement of members who shall be eligible for the allotment of Bonus shares in the proportion of 2 Bonus Equity shares for every 1 Equity shares held by the shareholders," said Rajshree Polypack in a regulatory filing.

Rajshree Polypack Share Price Target

Rajshree Polypack is overbought & slightly bearish on the Daily charts with strong resistance at 314. A daily close below support of 258 could lead to a target of 215 in the near term, said AR Ramachandran from Tips2trades.

DRC Systems India

The Board of Directors considered and approved "Issue of Bonus Shares in the ratio of 2:1 i.e. 2 (Two) new Bonus Equity Shares of Re. 1/- each for every 1 (One) existing Equity Share of Re. 1/- each fully paid up held as on the "Record Date". The Bonus Issue of Equity Shares is subject to approval of the shareholders and other applicable statutory and regulatory approvals, as may be required.The Bonus Shares once allotted shall rank pari-passu in all respects and carry the same rights as the existing Equity Shares," said DRC Systems India in a regulatory filing.

While announcing the record date, the Board of Directors informed stock exchanges that "Pursuant to Regulation 42 of the Listing Regulations, we wish to inform that Tuesday, February 27, 2024 has been fixed as the Record Date for the purpose of determining the list of shareholders eligible for allotment of Bonus Equity Shares, subject to approval of Members, which is being obtained through Extra Ordinary General Meeting."

DRC Systems India Share Price Target

DRC Systems was overbought & slightly bearish on the Daily charts with strong resistance at 71. A daily close below support of 63 could lead to a target of 49 in the near term, said AR Ramachandran from Tips2trades.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.