Shakti Pumps shares zoom ~5% as stock trades ex-bonus

25 Nov 2024 , 12:06 PM

Shakti Pumps shares surged 5% to ₹828 on the BSE today, as the company began trading on an ex-bonus basis. The corporation has announced a 5:1 bonus share issuance to its stockholders.

The corporation had designated November 25 as the record date for this reason. Following the establishment of the T+1 framework, the record date and ex-date are often the same, unless there is a market holiday following the ex-date.

This is in response to our letters of October 7, 2024, and November 11, 2024, informing members of their consent for the issuance of bonus shares in the 5:1 ratio. In this regard, we desire to tell you that the business has designated Monday, November 25, 2024 as the Record Date for the purpose of identifying the equity shareholders of the Company who are eligible for bonus equity shares of the Company,” the business stated in a prior filing with the stock markets.

As a result, investors who purchased the stock at least one day before the ex-date, which in this case is Friday, November 22nd, will be eligible for bonus shares. Those who purchase the shares on the ex-date, which is today, are not eligible for the same.

Shakti Pumps previously offered bonus shares to its shareholders once in 2011, with the stockholders receiving one extra share for each existing share of the firm held. 

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