Introduction:
While the stock markets offer numerous opportunities for investors, the fear of losses may deter some of them from making active investment decisions. However, with meticulous research and prudent investment strategies, you can invest in the best stocks according to your financial goals, investment horizon, and risk appetite.
Investing in bonus shares in an investment strategy preferred by several investors. It allows them to increase their stakes in companies without additional investments. Furthermore, investing in companies that have declared bonus shares allows investors to gain decent short-term profits.
Upcoming bonus shares in February 2024
When a company distributes additional shares to its existing shareholders proportionate to their current ownership, it is known as bonus shares. Bonus shares are assigned according to a specific ratio, where the numerator indicates the number of bonus shares a shareholder will receive, and the denominator represents their existing share quantity. For example, if a company declares a bonus share ratio of 1:2, it means that for every two shares a shareholder holds, they will be granted one additional bonus share.
As we move towards the penultimate month of the financial year 2023-24, the Indian stock market is abuzz with excitement, with several promising companies announcing bonus shares for their existing shareholders. You can consider investing in these companies before the record date to receive free shares and take advantage of the potential short-term price movements.
The list of upcoming bonus shares in February 2024 includes:
1. Salasar Techno Engineering Limited
Leading this list of upcoming bonus shares in February 2024 is Salasar Techno Engineering Limited. The company specialises in delivering steel fabrication and infrastructure construction services. Its range of services includes engineering, procurement, and control services for electrification, power transmission lines, and solar power plants. Additionally, it supplies various products such as telecommunication towers, lighting poles, guard rails, substation structures, and solar modules.
On 20 December 2024, the company’s Directorial Board announced the issuance of bonus shares in the ratio of 4:1. It means that the company’s shareholders by the record date will receive four equity shares of face value Re. 1 each for every fully paid-up equity share. The company has set the record date for the issuance of bonus shares as 1 February 2024.
2. Sandur Manganese and Iron Ores Limited
Next on this list of upcoming bonus shares in February 2024 is Sandur Manganese and Iron Ores Limited. The company is engaged in the extraction of low-phosphorous manganese and iron ore in Karnataka. Serving as the flagship entity of the Sandur group, it was established by the former ruler of the princely state of Sandur.
On 18 December 2023, the company announced bonus shares in a ratio of 5:1. It means that the company will issue five bonus shares with a face value of Rs. 10 each for every existing fully paid-up share owned by the shareholders. The record date for the same has been set as 2 February 2024.
3. Akshar Spintex Limited
Next on this list is Akshar Spintex Limited. The company is actively involved in the production and trade of spun cotton yarn. With a total of 24,480 spindles, it boasts an annual manufacturing capacity of 7,500 metric tons of cotton yarns.
On 22 December 2024, the company’s Board of Directors announced bonus shares in a ratio of 1:5. It means that the company will issue one bonus share to every shareholder holding five fully paid-up equity shares. The company has set the record date for the issuance of bonus shares as 8 February 2024.
4. Shreeji Translogistics
Shreeji Translogistics is one of India’s prominent logistics services providers. The company offers an array of logistics and supply-chain-related services, including export-import container transportation, bond trucking solutions, freight management, and warehousing facilities. The company has over 40 years of experience in the industry.
On 21 December 2023, the company’s Directorial Board announced bonus shares in a ratio of 1:3. It means that for every three existing fully paid-up shares, the company will issue one bonus share. The record date for the issuance of bonus shares has been set as 8 February 2024.
To conclude
These are upcoming bonus shares in February 2024 that you can add to your portfolio. Apart from these, the other companies that have announced bonus shares for the next month include DRC Systems, Maagh Advertising, and Network People Services Technologies Limited. But while investing in bonus shares can be an appealing prospect, you must consider other factors, such as your financial goals and a company’s fundamentals, before investing.
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