After 770% return in 10 months, this microcap stock will go ex-bonus soon. Key details

Shares of little-known Naysaa Securities, which hit a record high earlier this week, will go ex-bonus soon. The board of microcap company in a meeting on Wednesday announced issuance of fully paid-up bonus shares in the ratio of 15 shares for every 10 shares held, subject to shareholder’s approval.

The stock, which trades under the Stage 1 of long term ASM framework, last traded on November 22. The scrip jumped 10 per cent for the day to close at Rs 771.78 apiece.  At this price, the scrip is up a solid 771.78 per cent since its 52-week low of 20.24 hit on January 11.

The company commands a market capitalisation of Rs 76.66 crore. Promoters owned 46.92 per cent stake in this company as of September 30. A total of 34.69 per cent stake in the company is with resident individuals holding nominal share capital in excess of Rs 2 lakhs.

As per AceEquity, Naysaa Securities is a professionally managed firm, offering investment advisory services and investment related tools and services for the domestic stock market.

The company board has approved a proposal to increase existing authorized share capital of the company from Rs 4.40  crore to Rs 11 crore and subsequent alteration to the memorandum of  association of the company, subject to shareholder’s approval. It will also convey an extra ordinary general meeting (EGM) on December 19.

The same company recently announced a rights issue, which went ex-date in September this year. The issue size of Naysaa Securities rights issue was of 868,000 equity shares at Rs 100 per share, aggregating upto Rs 8.68 crore. Shareholders of thec company were entitled to subscribe to 1 share for every 4 equity on the record date.

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