Bonus issue record date this week: Shares of Concord Biotech Limited will remain in focus next week due to their upcoming record date for the issuance of bonus shares to eligible investors. The Ahmedabad-headquartered bio-pharmaceutical components manufacturer has fixed Wednesday as the record date for bonus issue.
Shares of Concord Biotech ended higher on Friday as part of overall bullish sentiment prevailing across the pharmaceutical sector stocks through the week. As the bonus issue record date approaches, here are all the details about the corporate earnings.
Concord Biotech bonus issue
The company’s board of directors approved a bonus issue in the ratio of 1:1. Which means that every shareholder will receive one equity share for every one existing fully paid up shares held. The issuance of additional shares will be subject to statutory and regulatory approvals.
Concord Biotech bonus issue record date
It is the only bonus issue record date scheduled for the coming week, as per BSE website data as on November 1. The company has fixed Wednesday, November 4, as the record date to determine eligibility of shareholders for the payout.
Which means that investors must own the stock before the record date to qualify for the corporate action, ie Tuesday (Nov 3) in this case.
Concord Biotech bonus issue share price trend
The stock closed 1.25% higher at ₹1245.30 per share on BSE with a market capitalisation of ₹13,027.86 crore on Friday, October 30. The stock has delivered 1.34% return in one week.
Meanwhile, its share price value has declined 6.97% in two weeks, 9.33% in one month, and around 14.28% in one year. Concord Biotech listed on exchanges in August 2023. The stock is up nearly 68% from its issue price (fixed at ₹741 per share)
