On Thursday, Vaishali Pharma Ltd’s shares increased by 6.6%, reaching an intraday high of Rs 202.40.
However, the stock later experienced some profit booking, bringing it down to Rs 196.35.
The rise in shares was driven by a significant announcement from the company.
Vaishali Pharma informed the stock market that its board members have recommended issuing bonus equity shares in a 1:1 ratio during a meeting held on August 28, 2024.
Additionally, the company is considering a stock split in a 1:5 ratio.
Details of the Bonus Issue and Stock Split
The company has approved a stock split, where one equity share of Rs 10 will be split into five equity shares of Rs 2 each.
This bonus issue aims to reward existing shareholders, increase liquidity, and expand the shareholder base.
The board also discussed raising funds through various means, including equity shares, debentures, or other securities, via rights issues, private placements, qualified institutions placements (QIP), or preferential issues.
Share Performance of Vaishali Pharma
Over the past five trading days, Vaishali Pharma’s shares have risen by up to 15%.
In the last month, the stock has gained 25%, and over six months, it has climbed 34%.
In the past year, the stock has seen a 55% increase, and over five years, it has surged by nearly 600%.
The company’s 52-week high is Rs 203.60, and its 52-week low is Rs 118.15.
Vaishali Pharma’s market capitalization currently stands at Rs 210.47 crore.
