2 Stocks To Hit Ex-Date This Week For 5:1 & 4:1 Bonus Shares: Buy Any?

This week's ex-bonus stocks are Salasar Techno Engineering and Sandur Manganese and Iron Ores Ltd. While Sandur Manganese and Iron Ores have announced 5:1 bonus shares, Salasar Techno Engineering has declared 4:1 bonus shares.

Let's investigate if investors should think about buying the aforementioned shares and when the bonus issue proposal is scheduled to expire. The ex-date is the final day to purchase the stocks in order to be eligible for a bonus share issue.

Salasar Techno Engineering

The company has fixed Thursday, February 1, 2024 as the record date for the purpose of ascertaining the eligibility of shareholders for entitlement of bonus shares in the ratio of 4:1 i.e. 4 new fully paid-up bonus equity shares of Rs.1/- each for every 1 existing fully paid-up equity share of Rs.1/- held on the record date.

Due to the T+1 settlement mechanism, Salasar Techno Engineering shall ex-bonus on 1st February.

Salasar Techno Engineering Share Price Target

Salasar Technology is overbought on the Daily charts with strong resistance at 140. A daily close below support of 117 could lead to a target of 94 in the near term, said AR Ramachandran from Tips2trades.

Sandur Manganese and Iron Ores Ltd

In order to determine the shareholders and their entitlement to the issuance and allotment of bonus equity shares in the ratio of 5:1, or 5 new fully paid-up equity shares of Rs 10/-per share for every 1 existing fully paid-up equity share of Rs 10/-per share held by them, the Board of Directors of the company has set Friday, February 2, 2024 as the record date.

Due to the T+1 settlement mechanism of India, Sandur Manganese and Iron Ores shall turn ex-bonus on 2nd February.

"The Bonus Equity Shares shall be allotted to the equity shareholders whose names appear in the Register of Members of the Company and in the beneficial records of the Depositories as on the said date," said Sandur Manganese and Iron Ores in a stock exchange filing.

Sandur Manganese and Iron Ores Share Price Target

Sandur Manganese is overbought & bearish on the Daily charts with strong resistance at 3500. A daily close below support of 3145 could lead to a target of 2670 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.