BN Rathi Securities surged by as much as 5% on Monday, December 9, 2024 session, with the stock hitting an intraday high of Rs 197 apiece on BSE. The stock is in focus after it announces double rewards namely bonus issues and stock splits to investors. There is a buying opportunity in BN Rathi ahead of its rewards.
BN Rathi Securities Share Price:
At the time of writing, the stock traded at Rs 191.95 apiece, up 2.32% on BSE, with a market cap of Rs 199.15 crore. The stock rose by over 5% in the early trade to hit an intraday high of Rs 197 apiece. The stock is near its 52-week high of Rs 219.45 apiece, while it has more than doubled from its 52-week low of Rs 86.28.
The price-to-equity ratio of BN Rathi is at 15.72x, while the return on equity is at 20.89% which is strong. YTD, BN Rathi becomes a multi-bagger with gains of a whopping 107.72%.
BN Rathi Securities Stock Split:
In a meeting last week, the board of directors of BN Rathi approved for alteration of its capital by Split/Sub-division of 1 (One) Equity Share of the Company having face value of Rs.10/- each into 2 (Ten) Equity Shares of the Company having face value of Re. 5/- each consequential amendment in the Memorandum of Association of the Company, is subject to necessary approvals.
Hence, the stock split ratio is at 1:2.
BN Rathi said that the Managing Director of the Company is authorized to fix the Record Date for Split/Sub-division.
As per the filing, BN Rathi's reason behind the stock split is to enhance the liquidity of Equity Shares and widen the shareholders base by making the Equity Shares more economical to the investors.
The company plans to finish its stock split action within 4 months from the date of the Board's approval.
BN Rathi Securities Bonus Issue:
Additionally, the company received approval for issuance of (1) Bonus Share for every 1 Equity Share held by the Equity Shareholders of the Company as of 'Record Date'. The Bonus Issue of Equity Shares is subject to the approval of the shareholders and other applicable statutory and regulatory approvals, as may be required.
Notably, the company said that the Managing Director of the Company is authorized to fix the Record Date for Bonus Issues and Stock Splits. These will be the first bonus and split by BN Rathi Securities.
Also, the bonus issue is aimed to be distributed within four months to investors.
Should You BUY BN Rathi Securities Stock?
"B N Rathi Securities stock price is bullish on the Daily charts with strong support at 192. A Daily close above resistance of 220 could lead to a target of 242 in the near term," A R Ramachandran, Independent Research Analyst said.
About BN Rathi Securities:
B.N.Rathi Securities Ltd is a publicly listed stock broking firm providing integrated types of services, encompassing the entire spectrum of activities relating to the Financial Market Transactions. BNRSL Group has been in the financial markets for over Five Decades and this vast experience is put to use for providing the best services in today's complex financial markets.
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