Upcoming bonus shares: 2 stocks to turn ex-bonus next week
360 One Wam Ltd and Pulz Electronics are the two stocks that are going to turn ex-bonus in the upcoming week. Bonus shares as the name suggests, are the additional shares that a corporation grants to current shareholders in proportion to the number of shares they currently own. This corporate benefit, which is paid out of company profits or reserves, is advantageous for long-term shareholders who desire to maximize their investment return. Since India uses the T+1 rolling system for the delivery of shares, the ex-date is one day before the record date. As a result, a stock must be purchased prior to both the ex-date and the record date in order to be eligible for corporate actions like bonus shares. The record date is a cut-off date that the organization determines, and on this date, you are eligible to receive bonus shares.
360 One Wam Ltd
360 One Wam Ltd (formerly IIFL Wealth Management Limited) is a mid-size company that provides financial services. The company has announced two corporate actions i.e. 1:1 bonus share and a 1:2 stock split for the purpose of which the record date has been fixed as March 2, 2023. Due to the T+1 settlement mechanism of India, the stock is turning on the same date, and interested buyers can buy the stock before the record date to be eligible for the stock split and bonus shares. On Friday, the shares of 360 One Wam closed on the NSE at ₹1,763.55, down by 1.23% from the previous close of ₹1,785.55. The stock made a 52-week-high of ₹1,960.00 on (24-January-2023) and a 52-week-low of ₹1,235.80 on (20-June-2022).
Pulz Electronics
With a market valuation of ₹54 Cr, Pulz Electronics Ltd. is a small cap business that operates in the electronics industry. Pulz is a brand that has been around for more than 35 years. It develops and produces audio systems, solutions, and speaker systems for the filmmaking, pro audio, studio, and home audio markets. On 23rd December 2022, the company recommended bonus shares in a 1:1 ratio for its eligible shareholders. Hence, the record date for the purpose of allotment of bonus shares will be on Wednesday 01st March 2023.
On Friday, the shares of Pulz Electronics Ltd closed on the NSE at an upper circuit limit of ₹99.20 apiece, up by 4.97% from the previous close of ₹94.50. The stock has generated multibagger returns of 370% over the past five years and 483% over the past three years. The stock has produced a multibagger return of 218% during the past year.
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