Bonus Issue of 3:5 By Penny Stock Under Rs 3: 17th Jan Record Date; BUY/SELL?

In 1980, Sattva Sukun Lifecare Ltd. was established. In India, Sattva Sukun Lifecare Limited produces and sells burners. The production and sale of burners and vaporisers is the core operation of Sattva Sukun Lifecare Ltd, formerly known as Mayukh Dealtrade Ltd. As the record date for 3:5 bonus shares by the penny stock approaches, Sattva Sukun Lifecare's shares wrapped up Monday at Rs 2.30 per share, down 0.43%, with a market capitalisation of Rs 27.60Cr.

Sattva Sukun Lifecare Bonus Shares

The company has set Friday, January 17, 2025, as the record date to determine the equity shareholders eligible for bonus equity shares of the company in order to issue bonus shares in the ratio of 3:5, which is three new fully paid-up equity shares of Re. 1/- each for every five existing fully paid-up equity shares of Re. 1/- each held by the company's shareholders.

The bonus shares will rank pari-passu in all respects with the current fully paid-up equity shares of the company and will be handed out to the members whose names are listed in the Register of Members / Register of Beneficial Owners maintained by the Depositories as of the above-said record date.

Members who hold equity shares in physical form but have not yet given the company their demat account details will have their Bonus Shares credited in dematerialised form to a new demat suspense account until they are credited to the beneficiary accounts of the corresponding members, according to Sattva Sukun Lifecare.

Sattva Sukun Lifecare Financials

In the September 2024 quarter, the company's net sales were Rs 1.56 crore, up 240.14% from Rs 0.46 crore in the September 2023 quarter. Its net profit in Q2FY25 reached Rs. 0.62 crore, up 124.9% from Rs. 0.27 crore in Q2FY24. EBITDA increased 125.58% from Rs. 0.43 crore in the September 2023 quarter to Rs. 0.97 crore in the September 2024 quarter.

Sattva Sukun Lifecare Share Price Target

"Sattva Sukun Lifecare stock price is bearish on the Daily charts with strong resistance at 2.53. A Daily close below support of 2.19 could lead to a target of 1.75 in the near term," commented 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.