clara industries shares: Shares of this smallcap stock jump 15% as board announces 4:1 bonus issue

Estimated read time 6 min read
Shares of Clara Industries, a small cap company, surged nearly 15% to day’s high of Rs 239 after the company’s board of directors announced the issue of bonus shares to its eligible shareholders in the ratio 4:1.

“Board of Directors of the company for issue of bonus shares to the shareholders in the ratio of 4 (Four) bonus equity share against 1 (One) existing equity shares, subject to the approval of the shareholders,” said the company in a filing to the stock exchanges.

Record date for the purpose of this bonus issue has been fixed as July 8 when the company will ascertain the eligibility of shareholders entitled for the issuance.

In the last one year, the company has given 17% returns to its shareholders and the shares of Clara Industries have jumped 52% in the last 3 months. However, in the last one month the stock has declined by 4%.

Also read: Sapphire Foods shares rally over 7% after announcing stock splitTechnically, Clara Industries is performing well above its significant exponential moving averages and oscillating at a mid-range, near the 45 mark on RSI as per the Trendlyne data.According to the same data, the recent shareholding of the company states that nearly 51% of the shares of the company are held by the promoters, 46% rests in the hands of the public while the remaining 3% is with the Foreign Institutional Investors (FIIs).Clara Industries had paid its first-ever dividend of Re 0.5 or 5 per cent in June, 2024. As of Thursday, the total market capitalization of Clara Industries stands at Rs 93.03 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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