1:1 Bonus Shares By Textile Stock: 8th Jan Record Date; A Promising Bet For 2025?

Headquartered in Karnal, Haryana, Padam Cotton Yarns Limited (PCYL) is a public limited company that was established on November 2, 1994. In India, PCYL is listed on the BSE. A publicly traded firm, Padam Cotton Yarns Limited (PCYL) produces cotton yarn, deals in agricultural equipment, and offers business consulting services for the textile industry. Following the record date for the stock on January 8th for the purpose of 1:1 bonus shares, Padam Cotton Yarns' shares wrapped up Friday at a 2% upper circuit limit at Rs 377.75 per share on the BSE, with a market capitalisation of Rs 146.30Cr Cr.

Padam Cotton Yarns Bonus Shares

"Pursuant to Regulation 30 of SEBI Listing Regulations, 2015, this is to inform you that the Company has received the In-Principle Approval from the BSE Ltd. vide its Letter No. LOD/Bonus/BNIP/KS/1595/2024-25 dated December 27, 2024, in terms of Regulation 28(1) of SEBI Listing Regulations, 2015, for the issuance and proposed allotment of not exceeding 3873000 Bonus Equity Shares in the ratio 1:1 i.e. One (1) new equity shares for every one (1) new equity share of Rs. 10/- each, held in the Company," said Padam Cotton in a stock exchange filing.

Padam Cotton Yarns Record Date For Bonus Shares

The company has declared Wednesday, January 8, 2025, as the "Record Date" in order to determine which shareholders are eligible to receive bonus equity shares of the company in a 1:1 ratio, meaning that there will be one bonus equity share with a face value of Rs. 10 for every existing equity share with a face value of Rs. 10 each.

Padam Cotton Yarns Q3 Results Date

"Notice is Obligations and hereby given that Pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirement) Regulation 2015, that a meeting of the Board of Directors of the Company will be held on Thursday, 9th January, 2025 at the Registered office of the Company at Karnal, inter-alia, to consider and approve the Un-audited Financial Results of the Company for the quarter ended on December 31, 2024 and other matters," said Padam Cotton Yarns in a stock exchange filing on January 3,2025.

Padam Cotton Yarns Share Price Target

"Padam Cotton stock price is bullish & very overbought on the Daily charts with next resistance at 399. Investors should be booking profits as a Daily close below support of 356 could lead to a target of 292 in the near term," commented A R Ramachandran, Independent Research Analyst.

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