5:1 Bonus Issue: Retail Stock Set To Reward Bonus Shares, Rallies 307% In 6-Months

Small cap company operating in specialty retail industry, Eastern Logica Infoway Ltd shares today hit 5% upper circuit after the company issued intimation of record date for 5:1 bonus share. The company fixed February 21, 2024 as the record date for the bonus issue. Last trading price of Eastern Logica Infoway shares on BSE is Rs 1344.00 apiece. Eastern Logica Infoway shares rallied 440% in last 1-year. Check details below:

Significance of Record Date In Bonus Issue: Record date can be described as the cut-off date that the company sets. Investors must be shareholders of the company before the record date so that they can become eligible to get bonus shares.

Eastern Logica Infoway Sets Record Date For Bonus Shares: As per the BSE filing of the company dated February 6, 2024, "Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20 I 5, The Company has fixed Wednesday, February 21st,2024 as the "Record Date" for the purpose of ascertaining the eligibility of shareholders for Issue of Bonus Equity Shares in the ratio of 5: I , which is subject to the approval of shareholders."

Earlier last monthon January 17, 2024, Board of Eastern Logica recommended the bonus issue in the ratio of 5:1 i.e. Five new bonus Equity Share for every One existing fully paid up Equity Shares of Rs. 10/- each.

Eastern Logica Infoway Stock Performance & Return: The 52-week high price of Eastern Logica Infoway shares on BSE is Rs 1449.95 apiece and 52-week low price is Rs 195.10 apiece, respectively. Eastern Logica Infoway has a market capitalisation of Rs 383.13 crore. The scrip witnessed a sharp rally of 68% in last 1-month, gained 126% in last 3-months, soared 307% in last 6-months and offered return of 440% in last 1-year.

Eastern Logica Infoway About: The company retails electronics products. It offers computers, laptops, tablets, monitors, printers, hard discs, scanners, mobile phones, speakers, headset, power bank, headphones, keyboard, and other accessories, among others.

Disclaimer:

The stock 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.