Radhakishan Damani will be among the top winners of VST Industries’ bonus issue as the ace investor held 34.7 percent equity stake in the company as of June 30, 2024.
Shares of cigarettes & tobacco products maker VST Industries surged 20 percent to hit the upper circuit as the stock traded ex-bonus. The company had announced the issue of 10 bonus shares for every one share held as of the record date (September 6). This is the first issue of bonus shares that VST Industries has announced.
- Baazar Style Retail shares list flat at IPO price, fall short of GMP estimate
- Vodafone Idea share price cracks over 14% as Goldman Sachs predicts 83% downside in the stock
- Gold 13% YTD returns comparable with Sensex. Should you buy as valuation worries weigh on equities?
- Rupee Opens Stronger In Run-Up To Key US Payrolls Data
- अदाणी एंटरप्राइजेज ने NCD इश्यू को समय से पहले बंद करने की मंजूरी दी, पूरी डिटेल यहां जानें
The record date is the specific day a company identifies which shareholders are eligible for benefits from corporate actions such as dividends, bonuses, stock splits, or share buybacks.
VST Industries received in-principle approval from BSE and NSE for the issuance and proposed allotment of 15 crore equity shares as bonus shares.
Radhakishan Damani will be among the top winners of this bonus issue as the ace investor held 34.7 percent equity stake in the company as of June 30, 2024. Damani had sold a 2.26 percent stake in VST Industries via block deals ahead of the Q1FY25 results and the announcement of the bonus issue of shares in July.
The cigarette maker reported a 3.5 percent on-year drop in its overall topline to Rs 321.33 crore for the quarter ended June 2024. Its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) fell 30.4 percent YoY to Rs 73.28 crore.
VST Industries stock was trading 20 percent higher at Rs 486.15 on the National Stock Exchange (NSE) in the previous session. The stock has gained 33 percent so far this year, outperforming Nifty’s returns of 15 percent. In the past 12 months, the counter has risen around 30 percent. In comparison, Nifty rose 28 percent during this period.
Disclaimer: The views and investment tips expressed by investment experts on goldsilverreports.com are their own and not those of the website or its management. goldsilverreports.com advises users to check with certified experts before taking any investment decisions.
