Multibagger stock surges 916% in 3 years, shall pay 1:2 bonus share soon

With a market valuation of ₹159.10 Cr, Veeram Securities Ltd. is a small-cap company that operates in the consumer discretionary industry. The Indian firm Veeram Ornaments Limited specializes as a wholesaler, retailer, and trader of designer jewellery and ornaments. In order to determine the eligibility of the shareholders for the purpose of 1:2 bonus shares, the Board of Directors of Veeram Securities Ltd has revised the record date from Friday, 14 October 2022 to Saturday, 15 October 2022.

The company has said today in a stock exchange filing that “Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we wish to inform you that the company has fixed Saturday, 15 October, 2022 as the “Record Date” for determining the eligibility of members for the purpose of Bonus Issue of the equity shares of the company for face value of Rs.10 /- each subject to in-principal approval of BSE Limited.”

Bonus issue of shares is in the ratio of 1:2, which means that shareholders whose name appears in the company's book of records on the record date will be eligible to get one bonus or additional share each for every 2 shares they hold.

The shares of Veeram Securities Ltd closed today at an upper circuit limit of ₹31.55 apiece, up by 4.99% from the previous close of ₹30.05. In trade today the stock recorded a total volume of 1,292,684 shares compared to the 20-Day average volume of 407,130 shares. The stock has climbed from ₹6.24 on November 10, 2017, to its current price level during the past five years, resulting in a multibagger return of 405.61% and an approximate CAGR of 38.88%. The stock has appreciated in value over the past three years from ₹3.29 on November 6, 2019, to the current price level, representing a multibagger return of 916.90% and an approximate CAGR of 117.81%. The stock has appreciated 21.35% over the past year, and YTD, it has climbed 61.38% in 2022. 

At its current price, the stock is trading 44.69% below its 52-week high and 146.48% above its 52-week low, which were both reached by the stock on (04/08/2022) and (13/05/2022), respectively. The company reported a promoter shareholding of 53.42%, a FIIs holding of 0.50%, and a public shareholding of 46.08%, for the quarter that ended in June 2022.