This Stock Hits 52-Wk High on 24:100 Ex-Bonus Day, Soars 861% in 1 Year
By Malvika Gurung
Investing.com -- Shares of Growington Ventures India (BO: GROI ) hit a new 52-week high of Rs 98.3 apiece on Friday as they turned ex-bonus in the ratio of 24:100 for the session.
The travel agency company’s Board approved to issue or award 24 bonus shares of Rs 10 each for every 100 fully paid-up shares of Rs 10 apiece held by the shareholders of Growington Ventures as on the record date.
The Bonus Shares so distributed shall be treated as an increase in the paid-up capital of the Company, it said in a BSE filing.
The record date for determining the members eligible for the allotment of bonus shares in a 24:100 bonus ratio is fixed as Saturday, March 25, 2023.
The Navi Mumbai-based company is a multibagger stock as its shares have soared massively by 861% in the past one year.
According to InvestingPro models, the average fair value set on Growington Ventures’ stock stands at Rs 51.4/share, indicating a 47.7% downside compared to the current share price.
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