2 Stocks To Hit Ex-Date This Week For 1:1 Bonus Shares: Buy Any?

Newgen Software Technologies Ltd and Integra Essentia Ltd are the 2 companies that have declared bonus shares for their respective eligible shareholders in the ratio of 1:1 which means that for 1 share they own or for 1 existing share the shareholders will get 1 additional share as bonus. Newgen Software has fixed 12-01-2024 and Integra Essentia has fixed 11th January as the record date and due to the T+1 settlement mechanism both the stocks shall trade ex-bonus on the respective record date.

Newgen Software Technologies Bonus Shares

The Board of Directors have "Recommended the issue of Bonus Shares in the proportion of 1:1 i.e. 1 (One) new fully paid-up bonus equity share 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 Members of the Company as on the Record Date, subject to approval of the Members through Postal Ballot.

The Board has fixed Record Date for reckoning eligible Members of the Company entitled to receive bonus shares, as stated below: Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Friday, 12th January 2024 as the Record Date, for the purpose of ascertaining the eligibility of Members entitled for issuance of Bonus Shares in the proportion of 1 (One) Equity Shares of Rs. 10/-each for every 1 (One) existing Equity Shares of Rs. 10/- each," said Newgen Software Technologies in a stock exchange filing.

Newgen Software Technologies Share Price Target

NEWGEN is currently trading close to its all-time high (ATH) at a price of 1566. Although the stock is displaying a bullish momentum, its current valuations are relatively high, making it less favourable for entry at the moment. Over the past three months, from October 2023 to January 2024, the stock has experienced a remarkable 80% increase. A pullback of approximately 30% from its ATH is anticipated, suggesting that it might be prudent to wait for a more favorable entry point.

The most opportune range for initiating new long positions would be between 1380 and 1450. Once entered, the expected target range is set between 1550 and 1800. To manage risk, it is advisable to establish a Stop Loss at 1120. This strategic approach allows for a potential entry at a lower price point, reducing risk while positioning for future gains in the stock, said VLA Ambala SEBI Registered Research Analyst and Co-founder of Stocks Market Today.

AR Ramachandran from Tips2trades said "New Gen Software is bearish and also very overbought on the Daily charts with strong resistance at Rs 1658. Investors should book profits at current levels as Daily close below support of Rs 1545 could lead to a target of Rs 1363 in the near term."

Integra Essentia Bonus Shares

The company has declared bonus shares in a 1:1 ratio or bonus issue of 1 equity share of Rs. 1/- each for every 1 existing equity share of Rs. 1/- each. Integra Essentia has fixed Thursday, January 11, 2024, as the record date for the said purpose. "Pursuant to SEBI (ICDR) (Second Amendment) Regulations, 2023 effective from 23.05.2023, the allotment of shares in bonus issue shall be made only in dematerialized form and thus, all the eligible members of the Company holding equity shares in physical mode are hereby advised to dematerialize their physical share certificates by contacting their respective Depository Participant (DP) on or before the Record Date for receipt of bonus equity shares in their respective beneficiary accounts. In case, shares of the Company are held in physical form as on the Record Date, the bonus equity shares so entitled, shall be transferred to the Suspense Account opened by the Company in this regard," said Integra Essentia in a regulatory filing.

Integra Essentia Share Price Target

Integra Essentia is trading at 11.70 with a current RSI of 76 at weekly and 78 at the daily time frame, which indicates that the price is on the higher side as of now. on 29 Dec, its breakout happened from there it delivered 80%, which huge but common phenomenal move in Small Capex stocks. Volumes have been increased in this stock but the current valuation is higher and wait for a Dip. One should wait for a "Pullback" at least till the 10:50 to 9:50 range. Hold it with stop loss at 7 and expect a target in 14 to 25", suggested VLA Ambala SEBI Registered Research Analyst and Co-founder of Stocks Market Today.

"Integra Essentia is slightly bullish but also very overbought on the Daily charts with the next resistance at Rs 14.7. Investors should book profits at current levels as a Daily close below the support of Rs 9.65 could lead to a target of Rs 5.7 in the near term" said AR Ramachandran from Tips2trades.

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.