Penny Stock Below Rs 2 Recommends 1:1 Bonus Shares; Buy Ahead of Record Date?

KBC Global Limited is an Indian firm that develops and builds real estate. Karda Constructions Limited was its previous name. The Mumbai-based business was established in 1994. Real estate development, construction, civil contracts (EPC), and other associated operations were the main business activities of KBC Global. Following the company's recommendation of 1:1 bonus shares, KBC Global's shares finished Monday 3.60% higher at Rs 1.15 per share, with a market capitalisation of Rs 300.65Cr.

KBC Global Bonus Shares

The Board of Directors considered and approved "Recommendation of issuance of fully paid up Bonus Share in the ratio of 1:1 i. e. 1(One) Equity Share for every 1 (One) fully paid up Equity Shares of Rs. 1/- each subject to approval of the shareholders of the Company. The Company will inform in due course, the "Record Date" for determining shareholders entitled to receive Bonus Shares," said KBC Global in a stock exchange filing.

"The Pre Bonus 2,61,43,79,226/- paid consisting up Share of capital 2,61,43,79,226/- Shares of Rs. 1/- each. Post Bonus paid up Share Capital shall be Rs. 5,22,87,58,452/- consisting Shares of Rs. 1/- each," according to the company.

KBC Global News

The Board considered and approved "Change of name from KBC Global Limited to Dharan Infra-EPC Limited or such other name as approved by ROC. The previous name suggested by the board is not approved due to non availability," said KBC Global in a regulatory filing.

KBC Global Share Price Target

"KBC Global stock price is bearish but also oversold on the Daily charts with support at 1.09. Investors should buy only if the Daily close is above the resistance of 1.22 for a target of 1.6 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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