Bonus shares 2025: Shares of Anand Rathi Wealth, a financial services company, spiked 7.5 per cent in early morning trade on Thursday, January 9 as the company informed that its board will consider a bonus share issue next week.
The company informed stock exchanges in a filing on Wednesday, post-market hours, that its board will meet on Monday, January 13, to consider issuance of bonus shares.
“In furtherance to our intimation dated 1st January 2025, regarding the proposed Board Meeting scheduled to be held on Monday, i.e. 13th January 2025, this is to inform you that the Board of Directors in its meeting inter-alia would also consider a proposal for Issuance of Bonus Shares to the shareholders of the Company,” the company said in an exchange filing. Anand Rathi Wealth, however, did not specify the ratio of the bonus shares in consideration.
Q3 Results Date
In an earlier communication to the exchanges on January 1, 2025, the company had informed that its board will consider the financial results for the quarter ended December 2024 on Monday, January 13.
“… we hereby inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Monday, 13th January, 2025 to, inter-alia consider, approve and take on record the unaudited standalone and consolidated financial results of the Company for the third quarter and nine months ended 31st December, 2024 after these results are reviewed by the Audit Committee of the Board,” the company said in a filing.
Therefore, in addition to the quarterly earnings, the company may also announce a bonus share issue. If approved by the company’s board, this will be Anand Rathi Wealth’s first bonus share.
Stock Reaction
Following the intimation that the company’s board will mull bonus shares, Anand Rathi Wealth shares surged 7.5 per cent on the BSE to ₹4,133.35 apiece.
Anand Rathi Wealth share price opened at ₹3,980, slightly higher than the previous close of ₹3,841.55 apiece.
After today’s rally, Anand Rathi Wealth shares are up 61 per cent from their 52-week low of ₹2,575. However, the stock needs to rise another 12 per cent to achieve its 52-week high of ₹4,640.55.
The stock has witnessed lacklustre performance in the short-term, declining 9 per cent in the last one month and 5 per cent in the past six months. However, it has risen 42 per cent in the past one year.
