Sky Gold’s stock price soared by 5% on Monday, reaching ₹465.70 per share, as the company’s shares traded ex-bonus ahead of its highly anticipated 9:1 bonus share issuance. This sharp increase reflects the adjusted price following the bonus issue, which was officially announced by the company in a regulatory filing last week.
Today marks the ex-date for Sky Gold’s 9:1 bonus share issue, with the record date scheduled for December 16, 2024. The bonus ratio of 9:1 means that for every one fully paid-up equity share currently held by an investor, they will receive an additional nine fully paid-up equity shares. This announcement has attracted significant attention from investors, driving the stock to its upper circuit limit.
In a filing on December 2, Sky Gold stated, “We wish to inform you that the Company has fixed Monday, 16th December 2024, as the Record Date for the purpose of determining the equity shareholders of the Company eligible for bonus equity shares of the Company.” The record date is essential in identifying the shareholders who are entitled to corporate benefits such as dividends, bonus shares, or stock splits. Investors who hold shares in their demat accounts on or before the record date will be eligible for the bonus issue.
It is important for potential investors to note that due to the T+1 settlement cycle, shares must be purchased at least one day before the ex-date to qualify for the bonus shares. This ensures that the purchase will be settled in time to be included on the record date, allowing investors to benefit from the corporate action.
Remarkable Stock Performance
Sky Gold’s impressive performance in the stock market has caught the attention of investors. Over the past month, the stock has surged by more than 42%, reflecting the growing investor confidence. In the last six months, Sky Gold’s stock price has skyrocketed by nearly 250%, underscoring its remarkable growth trajectory.
The company’s stock has been a standout performer in 2024, with a staggering year-to-date (YTD) gain of more than 367%. Over the last two years, the stock price has surged by an eye-popping 2,200%, and in the past three years, it has increased by more than 5,000%. These extraordinary gains have positioned Sky Gold as one of the most impressive multibagger stocks in recent years.
At 10:00 AM on Monday, Sky Gold shares were still locked at the 5% upper circuit limit of ₹465.70. This rise has contributed to a market capitalization of ₹6,824 crore on the Bombay Stock Exchange (BSE), further solidifying the company’s standing in the market.
With its ongoing strong performance and the upcoming bonus share issue, Sky Gold continues to capture the interest of investors and analysts alike, reinforcing its position as a standout performer in the stock market.
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