1:1 Bonus Shares: September 13 Record Date; Buy 1 Share To Get 1 Piece Free?

Monarch Networth Capital, with a market capitalisation of Rs 2,965.61 Cr, is a prominent player in the stock broking industry. Being a top investment firm, it offers its customers superior investment options and aids in enhancing their financial security. With Punjab National Bank, Monarch Networth Capital has a pan-Indian partnership for online trading solutions that are accessible through more than 2300 offices. It has operations in 20 states and over 221 cities in India.

Monarch Networth Capital Bonus Shares

"The shareholders approved the capitalization of a sum of Rs. 39,23,04,690/- (Rupees thirty nine crores twenty three lacs four thousand six hundred ninety only) from and out of the Securities Premium Account by way of bonus issue of equity shares in the ratio of 1:1 i.e., 1 (One) new fully paid-up Equity Shares 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 eligible shareholders as on the Record Date," said the company in a stock exchange filing.

3,92,30,469 equity shares would be issued as bonus shares and the pre-bonus issue paid-up share capital consists of 3,92,30,469 equity shares of Rs. 10/- each fully paid up aggregating to share capital of Rs. 39,23,04,690/- while the post-bonus issue share capital comprises 7,84,60,938 equity shares of Rs. 10/- each fully paid up aggregating to a share capital of Rs. 78,46,09,380/-.

For the purpose of the bonus issue, Friday, September 13, 2024 has been fixed as the record date by Monarch Networth Capital while the bonus shares will be credited by 27th September 2024.

Monarch Networth Capital Financials

The consolidated net profit for Monarch Networth Capital in Q1 FY25 was Rs 40.05 crore, a sharp increase of 135.23% over Q1 FY24's Rs 17.03 crore. Its revenue from operations increased by 100.45% to Rs 83.9 crore in the quarter that ended on June 30, 2024, from Rs 41.88 crore in the quarter that ended on June 2023. From Rs 21.36 crore in Q1 FY24 to Rs 33.62 crore in Q1 FY25, overall expenses rose by 57.4%.

Monarch Networth Capital Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "MONARCH is currently trading at its all-time high, between 919 and 909, forming a bullish continuation pattern with higher highs and higher lows. If the stock closes above 925, the next short-term targets could range between 1000 and 1100. On the downside, immediate support is around 850, which may offer a buying opportunity on dips."

"The Relative Strength Index (RSI) stands at 75.50 and is trending upward, signalling strong buying momentum. To manage risk effectively, a stop-loss at 800 is recommended to safeguard against unexpected market reversals. In summary, based on the technical setup and market conditions, MONARCH presents a promising buying opportunity for those targeting 1000 to 1100, provided risk management strategies are in place," Mandar Bhojane further added.

"Monarch Networth Capital is bullish but also overbought on the Daily charts with the next resistance at 945. Investors should book profits at current levels as a Daily close below support of 880 could lead to a fall till 772 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.