Board Of Penny Stock Offering 3:10 Bonus Share, Share Up 34% In 5 Days: Record Date Soon

Bonus shares are known as additional shares offered for free to the current shareholders, depending on the number of shares that a shareholder owns. At their last board meeting, the management of Veer Energy and Infrastructure announced a 3:1 bonus share issue for the shareholders. It is a penny stock, listed on BSE. The Record Date for the bonus share has been fixed on Friday, November 25, 2022. It is a micro-cap company with Rs. 25 crore market capitalization.

Currently, this penny stock closed at Rs. 21.75, on November 23. In the last 5 days, this company has given a 33.85% returns to the shareholders. In the last 1 month, its share price gained by 43.09%, but in the last 6 months its share price surged by 88.31%. The 52-week high level of this stock is Rs. 25.40, and the 52-week low level of this stock is Rs. 9.93.

The company's revenue in Q2 FY23 gained to Rs. 1.62 crore, compared to Rs. 0.69 crore in the earlier quarter, while its Total Income stood at Rs. 2.01 crore in the September quarter, compared to Rs. 1.20 crore in the previous quarter. On last Friday, the stock has seen a good buying interest, and the stock was locked at an upper circuit limit of the day.

Commenting on the stock, a Dalal Street report mentioned, "Watch out for this penny stock as fireworks could be seen above the level of Rs. 20.50. Technological advancements and supportive policy measures can dramatically increase the future of wind energy development in our nation and our world. Wind power has the unique ability to provide even greater sources of distributed energy production, which means less risk and a stronger energy portfolio. Our policy framework in wind energy generation is extremely investor-friendly and an attractive tariff and regulatory regime provide a strong foundation for the growth of the sector."

The company earlier informed the stock exchange, "The Company has fixed 25th November, 2022 as the Record Date for the purpose of ascertaining the eligibility of the shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 3 (Three) Equity Share of Rs. 10/- each for every 10 (Ten) Equity Share of Rs. 10/- each."

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