Bharat Global Developers, a computer hardware equipment company, has touched back-to-back 5% upper circuits for three consecutive sessions. The share price surged by 10% on its weekly performance. The bullish trend in Bharat Global Developers can be attributed to its record date announcement for double rewards aka stock split and bonus issue.
Bharat Global Developers Ltd Share Price:
The stock closed at Rs 1183.50 apiece, at its 5% upper circuit on December 13 on BSE with a market cap of Rs 11,984.07 crore. The stock has touched 5% upper circuit each on December 12 and December 11th as well.
The stock is racing towards its 52-week high of Rs 1,702.95 apiece, while it has climbed by a mind-boggling 2,541.15% from its 52-week low of Rs 44.81 apiece. In a span of six months, the stock gives 516.09% returns. YTD, the stock has zoomed by 2,027.07%. In a year, the stock skyrocketed by a huge 2,541.15%.
Among key fundamentals for the stock, as per Trendlyne data are - Bharat Global Developers has surged by 2,593.45% and outperformed its sector by 1,132.52% in the past year; while its Debt to Equity Ratio of 0.04 is less than 1 and healthy, which implies that its assets are financed mainly through equity. Also, its Return on Equity(ROE) for the last financial year was 3.29%, less than 10%, indicating an inefficient use of shareholder's capital to generate profit. Additionally, Mutual Fund Holding remained the same in the last quarter at 0%. Promoter Pledges are zero.
Bharat Global Developers Bonus Issue:
The company has fixed Thursday, December 26, as the record date for the purposes of ascertaining the eligibility of shareholders entitled to the issue of Bonus Shares.
Bharat Global is all set to pay an 8:10 bonus issue to investors. This would mean the company will issue eight new bonus Equity Shares of Rs.10/- each for every Ten existing fully paid-up Equity Shares of Rs.10/- each, held.
Bonus shares are one of the many corporate actions that listed companies announce on several occasions. Bonus shares are like incentives which are free of cost given to investors. Under this corporate action, new shares are issued at the existing Face Value of equity shares of the company. Hence, the face value remains the same post-bonus issue.
Bharat Global Developers Stock Split:
The company also fixed December 26 as the record date for its stock split in the ratio of 1:10 which is for the first time. The ratio means a sub-division of One (1) Equity Share of the face value of Rs. 10/- (Rupees Ten only) each into Ten (10) equity shares of the face value of Re.1/- (Rupee One only) each.
Generally, share splits mean that listed companies can split their existing shares into a ratio decided by them for a host of reasons. These could be done to improve liquidity, lessen the value of the stock, make it cheaper or simply attract new buying from both existing and new investors.
BUY/SELL/HOLD Bharat Global Developers:
As per MarketsMojo, The stock has been performing well, gaining 15.76% in the last 3 days and outperforming the sector by 5.51%. Despite this, MarketsMojo has given a 'Hold' call and the stock has a mixed trend. The company's stock is currently higher than its 5-day, 50-day, 100-day, and 200-day moving averages, but lower than its 20-day moving average. This indicates a mixed trend for the stock.
About Bharat Global Developers:
BHARAT GLOBAL DEVELOPERS, a public limited company incorporated on June 15th 1992 in Ahmedabad is a pioneering enterprise dedicated to facilitating global trade across diverse business sectors.
The company exports and imports a wide array of products spanning industries such as Textile, Agriculture, Construction material, Bullion, Gemstones and beyond.
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