Business

This 100% publicly held penny stock announces a 3:2 right issue


A small cap company with a market valuation of Rs. 8.10 Cr., Sharanam Infraproject and Trading Ltd. operates in the commercial service industry. Currently, the company’s only line of business is the retail supply of construction materials. The company’s board of directors reviewed and approved the 3:2 rights issue.

The company said in a stock exchange filing that “With regard to the subject introduced above, we would like to inform you that the Board of Directors meets today i.e. Tuesday, October 4, 2018. 2022 at 1:00 pm and ending at 05:15 PM other countries have considered and approved: 1. Issuing about 7,50,01,500 (Seven Crore Fifty One Thousand Five Hundred) Shares of the company has a face value of Rs. 1 / – each method of issuing rights at the rate of 3 shares of equity for every 2 shares of fully contributed capital of the company’s existing shareholders on a record date (not yet announced), in accordance with In accordance with the Securities and Exchange Board of India Regulations (Capital Matters and Disclosure Requirements), 2018, as amended, Companies Act, 2013 and other applicable laws, with provisions and such condition may be decided by the Board of Directors or an eligible committee of the Board of Directors, subject to receipt of the necessary approvals, if and as may be required. “

Shares of Sharanam Infraproject and Trading Ltd are down 1.20% from their previous close 1.66 on Friday and pay at 1.64 per share. The volume of shares traded on Friday was 886,560 compared to the 20-day average volume of 907,349 shares. Shares have gained 36.67% over the past five years, while share prices have risen 64.0% over the past three years. The stock has gained 5.81% in price over the past year, but it is down 5.20% year-to-date. The stock has gained 74.47% over the past month and 7.89% over the past five trading sessions.

This penny stock has hit a 52-week high of 2.18 on January 10, 2022 and the 52-week low was 0.54 on November 15, 2021, showing that at current market prices, the stock is trading 24.77% below the high and 203.70% below the low. In the quarter ended June 2022, the company recorded a 100% ownership percentage of the public shares unchanged as of December 2021.

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