Multibagger Stock That Doubled In Last Six Months Announces Bonus Of 1 On 10 Shares. Do You Own?

Multibagger Stocks: Ducon Infratechnologies announced a bonus of 1 equity share on every 10 equity shares for the shareholders last week. The company also announced a rise in the authorised capital of the company.

New Delhi: Multibagger penny stocks often offer good returns to investors. According to a report by Mint, Ducon Infratechnologies announced a bonus of 1 equity share on every 10 equity shares for the shareholders last week. The company also announced a rise in the authorised capital of the company.

According to the report, the company has also approved a reservation of 1 equity share for 10 equity shares that will be acquired at the time of conversion of warrants.

On Monday, the shares of the company were trading at Rs 25.65 per equity share, over 4 per cent higher than the previous close. The shares of the company have risen over 240 per cent in the last one year and out of this, 104 per cent have been gained in the last six months alone.

Why Does A Company Issue Bonus Shares?

According to the report, a company issues bonus shares to increase the liquidity of the stock. Along with this, the share prices are decreased due to new shares flooding the market.

Bonus shares are fully paid by the company and are given to the existing shareholders in a certain proportion.

Ducon infra provides complete FDG systems to the thermal power plants, alumna and fly ash plants. They also provide support to electrification projects.

The company mainly deals in fossil fuels and provides infra support to various businesses.