Penny stock with a record high of 2,211% sets record date for 3:10 bonus shares

With a market valuation of ₹18.19 Cr, Veer Energy Infrastructure Ltd. is a small-cap business that operates in the power industry. The company is a leader in renewable energy in India and offers services throughout the nation. The corporation has declared bonus shares in a 3:10 ratio and set a record date to determine the shareholders' eligibility for the same.

The company has said in a stock exchange filing that “This is further to our letter dated October 13, 2022 intimating the issue of Bonus Shares, which is subject to approval of the shareholders. We wish to inform you that pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed 25th November, 2022 as the Record Date for the purpose of ascertaining the eligibility of the shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 3 (Three) Equity Share of Rs. 10/- each for every 10 (Ten) Equity Share of Rs. 10/- each.”

The shares of Veer Energy & Infrastructure Ltd closed today at ₹15.95, up by 1.59% from the previous close of ₹15.70. The stock recorded a total volume of 75,752 shares today compared to the 20-Day average volume of 39,935 shares. The stock price climbed from ₹0.69 on January 16, 2004, to the current market price, representing an all-time high of 2,211.59%. The stock has lost 43.54% over the past five years while rising 74.01% during the past three years. 

The stock has appreciated 18.59% over the past year, and it has climbed 4.04% YTD in 2022. On the BSE, the stock had touched a 52-week-high of ₹20.50 on (04/10/2022) and a 52-week-low of ₹9.93 on (08/03/2022), representing that at the current market price the stock is trading 22.92% below the high and 59.11% above the low. The company reported promoter shareholding of 29.87%, FIIs holding of 0.39%, and public shareholding of 69.73% for the quarter that ended in September 2022.