new Delhi. BSE Ltd shares rose more than 3% to ₹972 on the National Stock Exchange in early deals on Monday. This stock is going to issue bonus shares and its record date is tomorrow, Tuesday, 22 March 2022. Meaning, whoever has its holding in the demat account till tomorrow, he will be entitled to get bonus shares.
According to a Livemint report, the shareholders of the company will get 1 fully paid equity share holding along with 2 new fully paid equity shares worth Rs 2. This information has been given by the company in the exchange filing. The board of the stock exchange BSE, in its meeting held on 8 February 2022, approved the proposal to issue bonus shares.
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What is bonus share and why is it done?
Bonus Shares means that the company divides its shares into more parts. Companies listed in the stock market usually do this, so that more liquidity comes in the stock and its value goes down. The lower the price, the more people are able to buy it. Meaning that a share worth Rs 2,500 may not be bought by every investor, but if it is split to Rs 500, then more investors will be interested in it. In this case, whoever has 1 share of the company, after conversion, he will have 2 shares. The share price will also decrease in the same proportion.
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Important information about BSE
Established in 1875, BSE (Bombay Stock Exchange) is the first stock exchange in Asia, which is one of the main exchange groups in India. This exchange was established in 1875 as ‘The Native Share and Stock Brokers Association’. In 2017, BSE became the first listed stock exchange in India, meaning the exchange issued its own shares, so that people could participate in it. BSE’s popular equity index – S&P BSE Sensex – is India’s most widely tracked stock market benchmark index. In the coming days, the National Stock Exchange (NSE) is also going to be listed through IPO.
BSE stock is multibagger
Shares of BSE have proved to be a strong multibagger so far. This stock has given more than 400 percent return in a period of 1 year. Talking about the last 6 months, there has been an increase of 134 percent in it. At the same time, this share has run 151 percent so far in 2022.
Tags: Multibagger stock, stock market
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