Multibagger Stock Below Rs 50 To Trade 1:2 Ex-Bonus On Friday: Buy To Be Eligible?

Small-cap firm SBC Exports Ltd., which operates in the commercial services industry, opened on the BSE today at Rs. 37.61 per share and quickly gained, reaching an intraday high of Rs. 38.43, representing a gain of 4.11% from the previous close. The rally in the stock price in the first half of the session was witnessed ahead of the ex-bonus date for the stock falling on Friday, 19th January.

SBC Exports Bonus Shares

"Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, The Company has fixed Friday, January 19th, 2024 as the "Record Date" for the purpose of ascertaining the eligibility of shareholders for Issue of Bonus Equity Shares in the ratio of 1:2, which is subject to the approval of shareholders," said SBC Exports in a regulatory filing.

Due to the T+1 settlement type, the stock shall trade ex-bonus on the same day tomorrow or Friday. Hence to be eligible for the bonus shares interested investors need to buy the stock before the ex-date. According to the official website of Motilal Oswal, "When a company declares a bonus share issue, it also announces an ex-date. The ex-date is the last day to buy the company's stock in order to be eligible for a bonus share issue. Anyone who joins the company after the ex-date is not eligible for bonus shares."

SBC Exports Share Price Target

SBC Exports is bearish and also very overbought on the Daily charts with strong resistance at 38.85. Investors should book profits at current levels as Daily close below support of 34.9 could lead to a target of 28 in the near term, said AR Ramachandran from Tips2trades.

SBC's stock is trading at an all-time high, indicating a strong market sentiment. However, the stock is currently in an overbought phase, suggesting that a slight pullback might be imminent. Investors should consider entering the stock within the range of INR 34.50 to INR 37. A range breakout appears plausible, setting potential targets between INR 40 to INR 50, with a stop loss at INR 30 to mitigate risks, said VLA Ambala of Stock Market Today (SMT).

SBC Exports News

"Notice is hereby given that pursuant to the Regulation 29 read with Regulation 33 and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 a meeting of the Board of Directors of the Company will scheduled to be held on Wednesday, 24th January, 2024 at 4:00 P.M. at the Corporate office of the Company i.e. 49/95 Site-IV, Sahibabad Industrial Area Ghaziabad, Uttar Pradesh - 201010 to transact, inter-alia, consider: 1. The Un-Audited Financial Results (Standalone and Consolidated) for the Quarter ended December 31st, 2023. 2. Any other item with the permission of the Chairman," said SBC Exports in a regulatory filing.

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