Damani's portfolio stock soars 17% as company plans to consider bonus share issue
Radhakishan Damani’s portfolio stock VST Industries rallied 17% to its new all-time high of Rs 4,829.95 after the company announced that it will consider issuing bonus shares in its upcoming board meeting.
“It is hereby informed that the Board of Directors of the Company may consider the issue of Bonus Shares in the aforesaid Board Meeting,” said the company filing to the stock exchanges.
The above-said board meeting of the company will be held on Thursday, July 25, 2024.
The company’s board of directors will also be approving the unaudited financial results of the company for the quarter ended June 30, 2024.
VST Industries has not issued any bonus shares and this will be the first-ever instance of the company doing so, according to Trendlyne data. The company has not split its stock to date either.
According to the same data, VST Industries has declared 24 dividends since May 2001 and in the last year, the company has declared final dividends of Rs 150/share twice.
As of the data available till the quarter ended June 2024, star investor Radhakishan Damani holds 5.35 lakh shares of VST Industries, which translates to a shareholding of 3.47% equity stake.
In the last year, VST Industries shares have gained 32%, while on a year-to-date basis, the stock has increased by 40%. In the last six months and 3 months, the shares of the company have surged by 30% and 21%, respectively.
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