1:4 Bonus Shares: September 20 Record Date; Buy 4 Piece Shares To Get 1 Bonus?

With a market valuation of Rs 978.37 Cr, Mindteck (India) is an engineering and technology solutions firm. The IT firm was founded in 1991 and currently provides services to government agencies, start-ups, top universities, and Fortune 1000 companies worldwide. The firm operates in the following countries: the United Kingdom, Germany, Singapore, Malaysia, the Philippines, the Middle East (Bahrain), Canada (Ontario), India (Bengaluru, Kolkata, Mumbai), US (California, New Jersey, Missouri, Florida, and Pennsylvania), and India (Bengaluru, Kolkata, Mumbai). It also has two development centres, one each in Bengaluru and Kolkata. Harvard University's Centre for International Development (CID) established "The Atlas of Economic Complexity," of which Mindteck is a founding member.

Mindteck India Bonus Shares Record Date

"Pursuant to Section 91 of the Companies Act, 2013 and Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company has fixed Friday, September 20, 2024 as the Record Date for the purpose of determining Shareholders and their entitlement for Issue and Allotment of Bonus Equity Shares in the ratio 1:4 i.e., 1 (One) new fully paid-up equity share of Rs. 10/- each for every 4 (Four) existing fully paid-up equity shares of Rs. 10/- each held by them. The Bonus equity shares shall be allotted to those members whose names appear on the Register of Members of the Company and in the Beneficial records of the Depositories as the said date," Mindteck India said in a stock exchange filing.

Mindteck India Bonus Shares Update

"This is to inform you that the Company has received the In-principle approval from BSE Limited and National Stock Exchange of India Limited for Bonus Issue in the ratio of 1:4 i.e., 1 (One) new fully paid-up equity share of Rs. 10/- each for every 4 (Four) existing fully paid-up equity shares of Rs. 10/- each held by them as on September 20, 2024 (Record date)," Mindteck India informed stockm exchanges on September 12, 2024.

Mindteck India Financials

The company's consolidated revenue was Rs. 108.15 crore for the quarter that ended on June 30, 2024, compared to Rs. 97.90 crore for the quarter that ended on March 31, 2024, and Rs. 93.41 crore for the quarter that ended on June 30, 2023. In comparison to a consolidated net profit of Rs. 6.48 crore for the quarter that ended on March 31, 2024, and Rs. 6.23 crore for the corresponding quarter that ended on June 30, 2023, the company reported a consolidated net profit after tax of Rs. 8.11 crore for the Q1FY25.

Mindteck India Share Price Target

"Mindteck India stock price is bearish on the Daily charts with strong resistance at 406.2. A Daily close below support of 364 could lead to a target of 316 in the near term," predicted A R Ramachandran, Independent Research Analyst.

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