4:1 Bonus Shares: Record Date On July 8; Bet On The Stock To Be Eligible?

Clara Industries Limited with its headquarters in Saharanpur, has expertise in providing top-notch services and products, mostly in the packaging industry. The most valued company with a market cap of over Rs 105 Cr and a rising international leader in industrial packaging is Clara Industries Limited.

Clara Industries Bonus Shares Record Date

"This is with reference to our letter dated May 25, 2024 in respect of recommendation made by the Board of Directors of the Company for issue of bonus shares to the shareholders in the ratio of 4 (Four) bonus equity share against 1 (One) existing equity shares, subject to the approval of the shareholders. The shareholders of the Company have approved aforesaid issue of bonus shares by passing an Ordinary Resolution in the Extra-Ordinary General Meeting held on June 19, 2024. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Monday, July 8, 2024 as 'Record Date', for the purpose of ascertaining the eligibility of shareholders entitled for issuance of bonus shares by the Company," said the company in a regulatory filing.

Clara Industries 2024 Dividend

According to the company's May 25, 2024, exchange filing, an interim dividend of 5%, or 0.50 paise per equity share of fully paid Rs. 10/-each has been paid as June 6, 2024 was the record date for the payment of the interim dividend.

In comparison to the Rs 6.15 crore reported in the same quarter of the previous year, Clara reported revenue from operations for the March 2024 quarter of Rs 8.47 crore. For the quarter ending March 31, 2024, the total income from operations was reported at Rs 8.51 crore, compared to Rs 6.17 crore for the same period the previous year. From the Rs 3.44 crore reported in March 2023 to the Rs 4.90 crore announced for Q4FY24, the company's total expenses surged. The EPS dropped from 7.69 in March 2023 to 5.01 in March 2024.

Clara Industries Share Price Target

"Global leader in industrial packaging space, CLARA Industries, is currently in consolidation, presenting a promising entry opportunity for investors. The stock's current price is well-positioned for accumulation between Rs. 215 and Rs. 230, with a PE ratio of 23.2, close to the sector average of 23.78 which seems reasonable. The company has delivered a yearly return of 22.68% underscoring its high performance, while its high ROE of 42.22% indicates robust profitability. Those considering a position in this stock can chase a price target of Rs. 260, Rs. 300, Rs. 320, and Rs. 350 with a holding period of 30 to 150 days," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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