The state-run company has set July 4 as the record date for its 1:4 bonus issue.
Ex-bonus is the date on which a stock starts trading without the entitlement to a recently declared bonus issue. This means that shareholders, who have the stock in their portfolio at the end of Thursday’s closing, will be eligible for the stock split.Those buying the shares today will not be eligible for the bonus shares.
The companies issue bonus shares to capitalise on their free reserves, increase their Earnings Per Share (EPS) and paid-up capital, along with reducing the reserves. Shareholders are issued these shares at no additional cost and hence are also known as free shares.On the charts, the Relative Strength Index (RSI) for CONCOR is at 46.9. An RSI reading above 70 would mean that the stock is in overbought territory.
CONCOR has missed its guidance for the recently concluded financial year by a big margin.
For the full fiscal, CONCOR reported total volume growth of 8%, which is well below the company’s guidance, which was between 18% to 20%.
The government is the single largest shareholder of CONCOR, with a 54.8% stake.
Shares of Container Corporation gave up gains and are currently trading 0.69% higher at ₹600.45. The stock is down 23% on a year-to-date basis.
