1:2 Bonus Issue Each: 2 Multibagger Penny Stocks To Trade Ex-Bonus This Week

1:2 Bonus Issue Each: 2 Multibagger Penny Stocks To Trade Ex-Bonus This Week :

who have declared a 1:2 bonus issue each. These two penny stocks have also made investors rich in a span of 5 years with gains of breathtaking 1100% to 9500%.

Two stocks, both multi-bagger and penny shares, will be in focus in the trading week from January 15-20 for trading ex-bonus.

M.K. Exim (India)

MK has fixed January 17 as the record date for the purpose of ascertaining the eligibility of shareholders entitled to issue Bonus Equity Shares in the ratio of 1:2.

The ratio of 1:2 means that 1 bonus equity share has a face value of Rs 10 each for every two existing equity shares having a face value of Rs 10 each.

Last week, on Friday, MK shares touched a new 52-week high of Rs 173 apiece before ending at Rs 170.95 apiece, up by 6.4% on BSE with a market cap of Rs 460.05 crore.

On MK EXIM stock price, AR Ramachandran from Tips2trades said, “MK Exim is bullish but very overbought on the Daily charts with next resistance at 175.15.

Investors should book profits at current levels as Daily close below support of 160 could lead to a target of 134 in the near term.” Further, VLA Ambala of SMT is also bullish on the stock but expects pullbacks as well.

She suggested a fresh buying range of Rs 160 to 170 in the stock, while it is expected to average between Rs 145 to 155. Ambala sets a target price of Rs 190 to 300 on MK Exim with a stop loss of Rs 135. As per her, the holding timeframe of the stock could be 1 week to 3 months.

In less than two weeks of January 2024, MK shares have rallied by 43% on BSE. While in a year, the stock became a multi-bagger with an upside of 105.22%. But in 5-years, this penny stock has climbed by a breathtaking 9,503.93% as of now.

A board meeting has been scheduled on January 18 for the allotment of bonus equity shares of the company. Also, the board members of the company will discuss other matters with the permission of the chair.

Incorporated in 1992 and based in Jaipur, M.K. Exim (India) is a growth-oriented business enterprise with operations and expansion projects in multiple domains.

The company has manufacturing facilities for fabric, readymade garments and jewellery; and is an approved supplier for Relief Programs.

SBC Exports.

SBC is another penny stock in the textile segment, to trade ex-bonus this week.

The company fixed Friday, January 19th, 2024 as the “Record Date” for the purpose of ascertaining the eligibility of shareholders for the Issue of Bonus Equity Shares in the ratio of 1:2, which is subject to the approval of shareholders.

The 1:2 ratio would mean that 1 bonus share on every 2 existing equity shares held by the existing equity shareholder of the Company as on Record Date to be fixed in the meantime.

SBC added that the Bonus shares once allotted shall rank pari-passu in all respects and carry the same rights of the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared, if any, after the issue and allotment of such Bonus Shares.

On Friday of last week, SBC’s share ended at Rs 31.16 apiece, down by 2.63% with a market cap of Rs 659.47 crore. Meanwhile, on SBC, Ramachandran said, that SBC Exports stock price is bearish on the Daily charts with strong resistance at 34. A daily close below support of 29 could lead to the target of 23.5 in the near term.

” Moreover, Ambala views SBC Exports’ share price as bullish with the possibility of a breakout. She has suggested fresh buying in the range of Rs 28 to Rs 31 in the stock for a target price of Rs 35 to 80 apiece with a stop loss of Rs 25. She suggests the holding timeframe of the stock to be between 3 weeks to 6 months.

Last week, the company won an order from the Ministry of Electronics and Information Technology through NICSI, New Delhi to the tune of Rs 43,90,142.

In a year, SBC shares have gained by 98.47% on BSE. In 5-years, the stock price has climbed by a whopping 1,187.60% as of now. Founded in 1991, SBC Exports is engaged in the Trading of handmade carpets, cushion covers, cotton quilts bedspreads etc. in Mirzapur (Registered office of the company).

The company operates from state-of-the-art Textile Processing Units, In-House Computerized Embroidery Machines, Digital Printing Machine, CAD Machine, Colouring Units and Modern Stitching Units etc.

In general terms, bonus shares are issued in a certain proportion only to the existing shareholders free of cost. 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.

Disclaimer:in advises users to consult with certified experts before making any investment decision.