Suumaya Corp board to consider bonus issue on September 23; Stock spurts 2%

Suumaya Corporation is formerly known as Rangoli Tradecomm Limited.

Sep 14, 2021 01:09 IST India Infoline News Service

Suumaya Corporation Ltd ((Formerly known as Rangoli Tradecomm Limited) stocks rally in the market on Tuesday after the company has informed to the exchange regarding bonus issue shares.

The company informed that a meeting of the Board of Directors of the Company will be held on Thursday, September 23, 2021, to consider inter alia the following:

1. To consider a proposal for Alteration in the Capital Clause (Increasing the authorized share capital) of the Memorandum of Association of the Company;
2. To consider a proposal for Issue of bonus shares on equity shares of the Company.

Suumaya Corporation is currently engaged in the business of trading of Polymers and Textile products.

Polymer trading business includes commodity polymer, engineering polymer & chemicals and additives while Textile trading business includes trading of yarns, threads and fabrics.

At around 1:25 PM, Suumaya Corporation was trading at Rs861.15 apiece higher by 1.91% on Sensex. The scrip tpuched an intraday high at Rs905 per piece.

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