2 penny stocks declare record date for 1:1 and 3:4 bonus shares: Do you own any?

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Companies distribute bonus shares to disperse profits from generated earnings without giving cash in the form of a dividend to the current shareholders. The effects of bonus shares consist of increases in the number of outstanding equity shares while decreasing the company’s free reserves and surplus. The two corporations that have declared the record date for bonus shares are Navoday Enterprises and Janus Corporation Limited. While Janus Corporation released 3:4 bonus shares, Navoday Enterprises announced 1:1 bonus shares.

Janus Corporation Limited

The company has said in a stock exchange filing that “This is to inform you that the meeting of the Board of Directors of Janus Corporation Limited is scheduled to be held on Wednesday, 30th November, 2022 at the Registered Office of the Company situated at 513 Stanford Building Link Road, Andheri West Mumbai MH 400053 IN, inter-alia to transact the following Matters: 1. To consider and approve the allotment of Bonus Equity Shares of Rs.10/- each in the ratio(3:4)(Four fully equity share for every Three existing fully paid up equity shares held by the shareholders), to the eligible members whose name appears in the register of members/list of beneficial owners as on the Record Date i.e. November 28, 2022, being fixed for the purpose.”

The shares of Janus Corporation Ltd closed on Friday at 9.01 apiece level, up by 4.89% from the previous close of 8.59. During its last trading session, the stock recorded a total volume of 405,000 shares compared to the 20-Day average volume of 33,975 shares. On a YTD basis, the stock has fallen 68.77% so far in 2022.

Navoday Enterprises

The company has said in a stock exchange filing that “This is to inform you that the meeting of the Board of Directors of NAVODAY ENTERPRISES LIMITED is scheduled to be held on Thursday, 1st December, 2022 at the Registered Office of the Company situated at B-713, 7th Floor, Crystal Plaza New Link Road Opposite Infinity Shopping Mall, Andheri West Mumbai MH 400053 IN, inter-alia to transact the following Matters: 1. To consider and approve the allotment of 38,54,000 Bonus Equity Shares of Rs.10/- each in the ratio(1:1)(One new equity share for every One existing equity shares held in the Company), to the eligible members whose name appears in the register of members/list of beneficial owners as on the Record Date i.e. November 29, 2022 being fixed for the purpose. 2. Any other business with permission of the Chairperson.”

The shares of Navoday Enterprises closed on Friday at 9.99 apiece, down by 4.86% from the previous close of 10.50. During its last trading session, the stock recorded a total volume of 132,000 shares. On a YTD basis, the stock has fallen 4.40% so far in 2022.

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