Multibagger Shares Issue Free Shares at a 1:2 Ratio: Key Takeaways

With a market capitalization of 182.04 crore, Veeram Securities Ltd. is a small cap company that operates in the consumer discretionary sector. The company is a retailer, wholesaler and trader of jewelry and accessories. The company’s traditional gold and silver jewelry and ornaments are either made with kundan, gemstones, etc., or simply with gold or silver. Investors should be aware that the board of directors of the company issued free shares in a ratio of 1:2.

The company said in a regulatory filing that “the board decided to issue free shares in a ratio of 1:2, i.e. one share for two shares on the record date decided by the board. subject to shareholders’ approval at a general meeting The Board authorized Mr. Girdharilal Pamnani to handle all matters relating to applications and approval from RBI and any other authority to commence business as an NBFC and then to acquire a banking license.

Shares of Veeram Securities Ltd. on BSE ended on Friday at 36.10, down 5.00% from the previous close of 5 per share. The share price went from 3.93 on January 6, 2017, at the current level, which represents a multibagger yield and an all-time high of 818.58%. The share price went from 5.09 as of August 31, 2017, at its current level over the past five years, representing a multibagger yield of 609.23%. The share price went from 17.71 on August 23, 2021 at the current share price over the past year, representing a multibagger return of 103.84%. On a YTD basis, the stock has gained 84.65% so far in 2022 and over the past 6 months the stock has gained 44.11%. Over the past month, the stock has gained 2.41%, but over the past 5 trading sessions, the stock has fallen 18.42%. On BSE, the stock had hit a 52-week high of 57.05 on 08/04/2022 and a 52 week low of 12.80 on 05/13/2022 which indicates that at the current market price of As of 36.10, the stock is trading 36.72% below the 52-week high and 182% above the 52-week low.

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