Bonus Shares In The Ratio of 9:1: 16th December Record Date; BUY/SELL?

Gold jewellery design, production, and marketing are the activities of Sky Gold Limited. Designing, producing, and selling gold jewellery is the business of Sky Gold Limited, an Indian firm. Following the announcement of the bonus share record date by the organisation, Sky Gold's shares finished Friday at Rs 4138.25 per share, down 4.69%, with a market capitalisation of Rs 6,064.19 Cr on the BSE.

Sky Gold Bonus Shares

"This is further to our letters dated 26th October 2024 and 26th November 2024 wherein the Company had informed that the Shareholders had vide Ordinary Resolution through Postal Ballot approved the issuance of Bonus Shares in the ratio of 9:1, i.e., 9 (Nine) new fully paid-up equity share of Rs. 10/- (Rupees Ten only) each for every 1 (One) existing fully paid-up equity share of Rs. 10/- (Rupees Ten only) each, held by the Shareholders of the Company. In this regard, we wish to inform you that the Company has fixed Monday, 16th December 2024 as the Record Date for the purpose of determining the equity shareholders of the Company eligible for bonus equity shares of the Company," said the company in a stock exchange filing.

Sky Gold Financials

One of the top jewellery companies in Mumbai, Sky Gold (SGL), released its financial results for the quarter that ended on September 30, 2024. In Q2FY25, Sky Gold achieved an impressive financial performance, with revenues from operations rising by 94.2% year over year to Rs 768.8 crore. With a remarkable rise of EBITDA by 154.3% to Rs 38.8 crore Profit After Tax (PAT) increased by a staggering 405.2 per cent to Rs 36.7 crore, while the PAT margin rose by 294 basis points to 4.8%.

Sky Gold Share Price Target

"Sky Gold looks bearish and also very overbought on the Daily charts with strong resistance at 4440. Investors should be booking profits at current levels as a Daily close below the support of 4203 could lead to a target of 3630 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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