1.5 Bonus Shares For 1: Record Date In Due Course of Time; Buy The Stock Under Rs 50?

Established in 1980, Worth Investment and Trading Company Ltd is a reputable investment company that is listed publicly on the Bombay Stock Exchange (BSE). Investment advisory, trading, research, analysis, and portfolio management are just a few of the many services that Worth Investment and Trading Ltd provides. With a market valuation of Rs 644.75 Cr, Worth Investment & Trading Co Ltd's shares closed 3.72% higher at Rs 43.48 each on the BSE on Monday following the announcement of the company's first-ever bonus shares in a 1.5:1 ratio since its founding.

Worth Investment & Trading Co Bonus Shares

The Board of Directors "Approved Issue of Bonus Shares by way of capitalization of reserves, to the equity shareholders of the Company in the ratio of 1.5:1 i.e., 1.5 (One point five) new fully paid-up Equity Shares of Re. 1/- (Rupee One only) each for every 1 (One) existing fully paid-up Equity Share of Re. 1/- (Rupee One only) each held by the eligible shareholders as on the Record Date (to be determined by the Board) subject to the approval of the shareholders of the Company," said Worth Investment & Trading Co in a stock exchange filing on - 05th October, 2024.

222430200 equity shares would be issued as bonus shares. The pre-bonus paid up share capital of the company is 1,48,28,6800 equity shares of Re. 1/- each fully paid up aggregating to a share capital of Rs. 14,82,86,800/- while the post-bonus paid up share capital comprises 37,07,17,000 equity shares of Re. 1/- each fully paid up aggregating to a share capital of Rs. 37,07,17,000 /-.

Worth Investment & Trading Co Bonus Shares Record Date

"As the Issue of Bonus Shares is dependent on the SEBI approval for the alteration in Memorandum of Association in respect of the increase in authorized share capital, the date of credit of Bonus shares cannot be estimated at this point in time. Details surrounding the record date, estimated date of credit of shares etc. shall be provided upon receipt of aforementioned approval from SEBI," the company said in a regulatory filing.

Worth Investment & Trading Company Financials

Worth Investment & Trading Company's net profit climbed to Rs 0.80 crore in the quarter that ended in June 2024 from Rs 0.54 crore in the quarter that ended in June 2023, a 48.15% growth. Sales for the quarter ended June 2024 increased 39.56% to Rs 1.27 crore from Rs 0.91 crore in the corresponding quarter ended June 2023.

Worth Investment & Trading Company Share Price Target

"Worth Investment is bearish on the Daily charts with strong resistance at 44. A Daily close below support of 38 could lead to a target of 34 in the near term," recommended 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.