1:10 Bonus Issue Declared For The 1st Time: Record Date To Be Fixed; What’s The Near Term Target Price?

In India, Pulsar International Limited is a mutual fund unit dealer. The company is headquartered in Thane, India, and was founded in 1990. As of June 30, 24, Pulsar International Ltd. has a total asset value of Rs. 13 Cr. As of 04-Sep-2024 IST, Pulsar International Ltd's share price was Rs 14.75 (BSE). Over the past year, Pulsar International Ltd. has produced a return of 96.93%. As of September 4, 2024, Pulsar International Ltd. had a market capitalisation of Rs. 96 Cr. The firm is classified as a small cap by Value Research. BLUEROCK INVESTMENT QUOTIENT is Pulsar International Ltd's promoter with 9.26% of the equity stake.

Pulsar International Bonus Shares

"The Board of Directors in its meeting held on August 22, 2024 considered, approved and recommended an issue of bonus shares in the proportion of 01:10 i.e. 01 (One) new Equity Shares of the Company of Rs.1/- (Rupees one only) each for every 10 (Ten) existing Equity Shares of the Company of Rs.1/- (Rupees one only) each held by the Members on the "Record Date" to be determined by the Board from amount standing to the credit of free reserves and/or the securities premium account as at March 31, 2024. The bonus shares upon their issue and allotment shall rank pari-passu in all respects with the existing shares including dividend, if any. As on March 31, 2024 the Audited Cumulative reserves and surplus of the Company is Rs.366.16/- Lakhs. The Securities Premium of the Company shows a balance of Rs.104.70/- Lakhs as on March 31, 2024. The reserves and surplus including security premium required for implementing the bonus issue required is Rs.64.90/- Lakhs," said Pulsar International in its annual report.

Pulsar International Record Date For Bonus Shares

"The issue of bonus shares needs to be considered in the interest of the shareholders and to enhance liquidity of the shares of the Company. The issue of bonus equity shares by way of capitalization of the sums standing to the credit of Free Reserve, as may be considered appropriate for the purpose of issue of bonus equity shares requires members' approval in terms of Sections 63 of the Companies Act, 2013 and other applicable statutory and regulatory approvals. The Record Date for the aforesaid issue of bonus shares shall be fixed by the Board at a later date. Pursuant to proviso to Regulation 295 of SEBI ICDR (Issue of Capital and Disclosure Requirements) Regulations, 2018 the bonus issue shall be implemented within two months from the date of the meeting of Board of Directors wherein the decision to announce the bonus issue was taken subject to shareholders' approval," Pulsar International said in a statement.

Pulsar International Share Price Target

"Pulsar International stock price is bullish on the Daily charts with strong support at 13.36. A Daily close above resistance of 15 could lead to a target of 16.6 in the near term," predicted A R Ramachandran, Independent Research Analyst.

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