Speciality Retail Stock Okays 5:1 Bonus Shares; Scrip Up 290% In 6 Months & 440% In 1 Yr

With a market valuation of Rs 402.29 Cr, Eastern Logica Infoway Ltd is a small-cap company in the speciality retail industry. Eastern Logica Infoway's shares began trading on the BSE on Wednesday at Rs 1411.20 per share, subject to a 5% upper circuit limit. One of Dalal Street's multibagger stocks, Eastern Logica Infoway has returned 464.48% in a single year. However, the more intriguing news is that the company's board of directors announced a 5:1 bonus share, for which a record date has also been set.

Eastern Logica Infoway Bonus Shares

"Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, 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 5:1, which is subject to the approval of shareholders," said the Board of Directors of Eastern Logica Infoway in a stock exchange filing.

Eastern Logica Infoway Share Price Returns

The scrip reached a 52-week-high of Rs 1,449.95 on (25/01/2024) and a 52-week-low of Rs 195.10 on (13/03/2023). The stock has produced a multibagger return of 464.48% over the last year, and as of now in 2024, the scrip has gained 75.94% YTD. The stock has produced a multibagger return of 309.04% over the past six months, and it has gained 76.40% during the past month.

About Eastern Logica Infoway

The firm sells branded smartphones, IT hardware, software, related accessories, and services in addition to engaging in multi-brand retail and retail selling. Customers can also get networking and security solutions from it. As of December 15, 2022, our company operates in 11 cities around the nation with 4 offices, 11 retail locations, 2 distribution facilities, and virtual offices.