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Upcoming Bonus Shares in October 2024

equity market
Published Date: 04 Oct 2024Updated Date: 27 Dec 20246 mins readBy MOFSL

As several companies prepare to reward their shareholders with bonus shares in October 2024, exciting news is on the horizon. The standout names making headlines are NBCC (India), Power Mech Projects, BSE Classic Electrical, and Shikhar Leasing & Trading. What's particularly intriguing is that Classic Electrical and Shikhar Leasing & Trading, known as penny stocks, have a track record of delivering significant returns, making them enticing for savvy investors.

So, what exactly are bonus shares? They are free shares distributed to existing shareholders, reflecting a company's appreciation for their loyalty. By offering these additional shares at no extra cost, companies not only enhance shareholder value but also boost the liquidity of their stock. This win-win strategy creates a more dynamic market and fosters more robust investor relationships.

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Here are the details of the companies that will be issuing bonus shares in the coming weeks:

Power Mech Projects

Power Mech Projects Limited is a leading infrastructure construction company based in Hyderabad, India, with a global presence. It provides services in the power and infrastructure sectors. Established in 1999, the company is known for its commitment to high quality, and timely project execution—principles that have earned it a strong reputation in the industry.

Today, Power Mech Projects is a key player in its field, employing 15,000 direct and 25,000 indirect workers. With a vast fleet of cranes and machines, the company has the capacity to handle and execute over 400,000 MT annually while managing up to 55 project sites simultaneously.

Power Mech Projects will issue a 1:1 bonus share with an ex-bonus date of October 8, 2024, for the financial year ending March 31, 2024.

NBCC (India)

Founded in 1960 as a Government of India Civil Engineering Enterprise, NBCC, headquartered in Delhi, holds the status of a Navratna CPSE. It has become a leading player in the construction sector, known for its innovative approach, high-quality standards, timely delivery, and dedicated workforce.

NBCC operates across three primary segments:

  • Project Management Consultancy (PMC): Executing significant projects in multiple sectors, including government redevelopment projects.

  • Engineering Procurement & Construction (EPC): Specializing in niche markets, constructing chimneys and cooling towers for the power sector.

  • Real Estate Development: Developing residential and commercial properties for governments and the public.

The company's operations are heavily focused on Project Management Consultancy, which accounts for 93% of its business. This is followed by EPC contracting (5%) and real estate development (2%).

NBCC (India) plans to issue 1:2 bonus shares with an ex-bonus date of October 7, 2024.

Shikhar Leasing & Trading Ltd

Shikhar Leasing & Trading deals in various types of yarns, fabrics, furnishing materials, paper, electrical fittings, and electronic goods. It also conducts business in finance, investment, leasing, and hire-purchase activities, including trading plants, machinery, equipment, and properties like land, buildings, and vehicles. Additionally, the company provides leasing services and advisory support for movable and immovable assets.

Shikhar Leasing will offer a 3:1 bonus share, with the ex-bonus date set for October 4, 2024, for the financial year ending March 31, 2024.

Classic Electricals Ltd.

Classic Electricals Limited, established in 1985 in Mumbai, manufactures and deals in various electrical goods and accessories. The company produces and sells switch plates, boxes, and various electrical items like switches, sockets, plugs, lighting fixtures, motors, and components made from polystyrene, polypropylene, and ABS nylon. It is also involved in importing, exporting, and processing electrical wiring accessories and appliances.

The company has announced a 5:1 bonus share issuance, with October 4, 2024, for the financial year ending March 31, 2024.

These companies will issue bonus shares on the respective dates, providing an opportunity for existing shareholders to increase their holdings.

 

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Disclaimer: The stocks, companies, or financial instruments mentioned in this blog are for informational purposes only and should not be considered as investment recommendations. It is advised to consult with your financial advisor before making any investment decisions. Investment in securities markets are subject to market risks, read all the related documents carefully before investing. Investors are strongly encouraged to carefully read the risk disclosure documents prior to participating in market-related investments or trading activities. Due to the volatile nature of financial markets, no guarantees can be made regarding investment returns. Motilal Oswal Financial Services Ltd. does not offer any assured returns on market-linked securities. Please note that past performance of stocks or indices is not indicative of future results.
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