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IT stock hits 5% upper circuit after announcing 1:10 stock split and 8:10 bonus issue

The stock surged 5% after a 1:10 stock split and 8:10 bonus issue announcement, enhancing liquidity and affordability, pending shareholder and regulatory approvals for seamless equity integration.
Stock hits 5% upper circuit after 1:10 split and 8:10 bonus issue, boosting liquidity and awaiting approvals.

Introduction:

The stock surged 5%, hitting the upper circuit after announcing a 1:10 stock split and an 8:10 bonus issue. This move aims to enhance share liquidity and affordability, awaiting shareholder and regulatory approvals to integrate seamlessly within the equity framework.

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Share price movement of Bharat Global Developers:

As of November 18, 2024, Bharat Global Developers Ltd. opened at ₹1204.00, and reached an intraday high of ₹1204.40, reflecting a 5.00% increase. The company’s market capitalization currently stands at ₹12,256.46 crore, showcasing strong investor sentiment. 

Bharat Global Developers Share Hits 5% Upper Circuit:

Bharat Global Developers stock surged, hitting a 5% upper circuit after announcing a 1:10 stock split and 8:10 bonus issue to enhance liquidity, affordability, and shareholder participation. The bonus entails issuing 8 new equity shares for every 10 held, subject to necessary approvals.

The bonus shares will be fully paid up, with a face value of ₹10 each, and will rank pari-passu with existing equity shares in all respects. This initiative, aligned with SEBI regulations, awaits shareholder and statutory approvals, ensuring seamless integration into the company’s equity framework.

Also Read: Solar stock jumps 5% after it receives ₹3,753 Cr loan from REC for projects in Rajasthan

Recent news About Bharat Global Developers:

On November 7, 2024, Bharat Global Developers Ltd. secured a significant infrastructure engineering contract worth ₹120 crore from Reliance Industries Ltd. The project involves designing and constructing a high-capacity Fluidised Catalytic Cracker (FCC) unit, marking a substantial milestone for the company in the infrastructure and construction sector.

Stock performance of Bharat Global Developers for Period of 1 week, 6 months and 1 year:

Bharat Global Developers has demonstrated impressive stock performance, gaining 15.8% in the past week and a substantial 441% over six months. Over the past year, the stock has skyrocketed by an astonishing 5,242%, reflecting remarkable growth and strong investor confidence.

Also Read: Anil Ambani stock in focus after it reports ₹4,082 Cr net profit against loss of ₹294 Cr year ago

Shareholding pattern of Bharat Global Developers:

SummarySep-24Jun-24Apr 15, 2024
Promoter 0%0%0%
FII0%0%0%
DII 0%0%0%
Public100%100.00%100.00%

About Bharat Global Developers:

Bharat Global Developers (BSE: 521238) specialises in infrastructure development and engineering solutions. It undertakes large-scale construction, power, and agricultural projects, focusing on innovation and quality. The company’s strategic initiatives aim to enhance market presence, ensuring sustainable growth and value creation for stakeholders in diverse industries.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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