1:1 Bonus, Stock Split Gets Approval: Small Cap Stock Hits Back To Back Upper Circuit

Board of small cap stock, Varanium Cloud Limited approved stock split and bonus issue on March 20, 2023. Soon after the approval, the shares of the company locked in 5% upper circuit in trade on Monday. The current market price of the stock is Rs 721.85 apiece on NSE with intraday rally of 5%. The stock locked in 5% upper circuit today as well. The company has a market capitalisation of Rs 691.04 crore. The stock gave 461% return in last 6-months. Check details below:

Varanium Cloud Limited Approves Stock Split, Bonus Share: According to the NSE filing of the company, "We wish to inform you that the Board of Directors of the Company in the meeting held today discussed on the following matters:

1. Alteration in Capital of the Company by Split/Sub-division of 1 (One) Equity Share of the Company having face value of Rs. 10/- each into 2 (Two) Equity Shares of the Company having face value of Rs. 5/- each.

2. Approved the Issue of 1 (One) Bonus Shares for every 1 (One) Equity Shares held by the Equity Shareholders of the Company as on 'Record Date'. The Bonus Issue of Equity Shares is subject to the approval of the shareholders and other applicable statutory and regulatory approvals, as may be required.

Varanium Cloud Limited Stock Performance & Return: Current market price of the stock is Rs 721.85 apiece with intraday gain of 5% as of March 20, 2023. The stock hit upper circuit in morning trade and touched upper circuit on March 20, 2023 as well. The stock's 52-week high is Rs 1602.40 apiece and 52-week low is Rs 146.50 apiece, respectively. The stock declined 30% in last 3-months. It gave return of 461% in last 6-months.

Varanium Cloud About: Varanium Cloud Limited operates as an information technology company. It focuses on offering solutions surrounding digital audio, video, and financial blockchain based streaming services.

Disclaimer: The stock declared bonus issue and stock split. Greynium Information Technologies and the Author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.