Multibagger pharma stock announces record date for bonus issue

Multibagger pharma stock announces record date for bonus issue

Market


ANG Lifesciences India Ltd. is a small-cap pharmaceutical company with a market worth of Rs. 184.99 crore. ANG Lifesciences is a rapidly expanding company in the pharmaceutical and biotechnology industries as well as in the healthcare sector. The firm has set a record date for bonus equity shares, which will be distributed in the ratio of 1 new equity share for every 4 existing equity shares to shareholders of the company.

On 1st July, the company said in BSE exchange filing that “Pursuant to the provisions of Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the Company in their meeting held on today, has fixed Thursday, 14th July, 2022 as ‘Record date’ for the purpose of determining the eligibility of shareholders for the entitlement of issue of Bonus equity shares in proportion of One (1) new equity share for every Four (4) existing equity shares, subject to the shareholders’ approval sought through Postal Ballot/Evoting.”

The stock shall trade ex-bonus on 13th July 2022. On the BSE, the stock declined 1.76 per cent from its previous close of Rs. 181.65 and settled at Rs. 178.45 on Friday. The stock moved from 59.88 on July 5, 2021 to its current level in the past year, representing a multibagger return of 198.01 per cent. However, the stock has fallen 60.02 per cent so far in 2022 on a year-to-date (YTD) basis, and in the past six months, it has fallen 58.66 per cent. The stock has plummeted by 14.62 per cent over the past five trading days and by 22.33 per cent over the past month. ANG Lifesciences is trading below the 5 days, 20-day, 50-day, 100-day, and 200-day moving averages according to the last traded price. On the BSE, the stock touched a 52-week-high of 800.45 on 09/11/2021 and a 52-week-low of 53.05 on 05/07/2021 indicating that at the current level of 178.45 the stock is trading 77.70% below its 52-week-high and 236% above from 52-week-low.

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