Penny stock under Re 1: Srestha Fininvest It’s one of those stocks that will steal the spotlight on Monday. The board of directors of the small cap stocks has set a board meeting date of October 9, 2024 to consider the fundraising proposal. The penny stock under Re 1 informed the Indian stock exchange about the decision. Countries included in the BSE list penny stocks below Re 1 hit a 5% upper circuit on Friday despite weak sentiments in the Indian stock market.
Srestha Fininvest News
The Non-Banking Financial Company (NBFC) informed the BSE on Friday about the date of the board meeting, saying, “Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, The board meeting is scheduled for October September 9, 2024, to consider and approve the fundraising, in one or more tranches, in accordance with applicable legal provisions.”
The small cap penny stock was in the news last month for trading ex-split. The company’s board of directors had announced a stock split in the ratio of 1:2, and the record date for share split was set as September 23, 2024. On June 24, 2024, the company set the record date for rights issue to its eligible shareholders. Therefore, if the small-cap company’s board of directors declares fundraising at its meeting on October 9, 2024, this would be the third major corporate decision that the small-cap stock will declare this year.
Small cap penny stocks under Re 1 have been in an uptrend for the past week. NBFC stock hit upper 55 circuits in the four sessions last week, registering a rise of around 18.50% in the last five sessions. Taking into account the post-stock split price adjustment on September 24, 2024, this penny stock has delivered a 40% return to its positional investors so far this year. In one year, this small-cap penny stock has returned 45% to its shareholders.
Small cap NBFC shares are available for trading only on BSE. It ended Friday with a market capitalization of $145 crores and a trading volume of 2,16,96,699. After price adjustment post stock split at 1:2 ratio, its 52-week high is $1.28 each. Also, your 52-week minimum is $0.49 per share.
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