1:1 Bonus Shares & 1:1 Stock Split: Record Date To Be Determined; BUY/SELL?

In the state of West Bengal, Consecutive Investment & Trading Company Limited was established as a public limited company on November 16, 1982. Investments in stocks, real estate, bonds, and other assets are handled by the corporation, which also funds industrial businesses. Located at 23, Ganesh Chandra Avenue, 3rd Floor, West Bengal Kolkata-700013, is the company's current registered office. Following the company's announcement of a stock split and bonus shares, Consecutive Investment & Trading Company Ltd.'s shares closed the day higher by 1.09% at Rs 97.69 per share on Thursday.

Consecutive Investment & Trading Company Stock Split

Based on the meeting of Board of Directors of the company which was held on Wednesday, 16th October, 2024 considered and approved "Sub-division of 1 (One) Equity share of face value of Rs 10/-(Rupees Ten only) each fully paidup to 10 (Ten) Equity shares of the face value of Rs 1 (Rupee One only) each fully paid-up," said the company in a stock exchange filing.

For the purpose of sub-division of 1 equity share of face value of Rs. 10/- each fully paid up into 1 equity share of Rs. 1/- each fully paid up, resulting in the issuance of 10 equity shares of Rs. 1/- each fully paid up, thereby keeping the paid up capital intact, Consecutive Investment & Trading Company said the rationale behind the stock split is to improve the liquidity of the company's equity shares in the stock market and to make the shares more affordable to small investors.

Consecutive Investment & Trading Company Bonus Shares

The Board of Directors on 16th October 2024 considered and approved "Bonus Issue of Equity Shares in the ratio of 1:1 i.e., 1 Equity Shares of Rs 1/- each for every 1 Equity Share of Rs 1/- each held by the shareholders of the Company as on the Record Date (to be determined by the Board and will be intimated to the exchange), subject to the approval of members of the Company by Extraordinary General Meeting," said the company in a regulatory filing.

8,00,75,000 equity shares of Re 1/- each is the total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately) as a part of bonus shares.

Consecutive Investment & Trading Company Share Price Target

"Consecutive Investments is bearish on the Daily charts with strong resistance at 104.29. A Daily close below support of 90 could lead to a target of 78 in the near term," recommended A R Ramachandran, Independent Research Analyst.

Disclaimer

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