Realty penny stock hit 5% upper circuit as Board declares 1:1 bonus shares

With a market valuation of ₹7.38 Cr, Jet Infraventure Ltd. is a small-cap company that engages in the real estate industry. The company specialises in real estate happenings and has its headquarters in Mumbai. The shares of Jet Infraventure closed at a 5% upper circuit limit on the BSE today after the announcement of 1:1 bonus shares. In order to determine the eligibility of the shareholders for the purpose of bonus issue, the Board has also declared record date.

“Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Friday, 14th April, 2023 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares in the proportion of 1 (One) Equity Shares of Rs. 10/- each for every 1 (One) existing Equity Shares of Rs. 10/- each, subject to the approval of Members, which being obtained through EGM,” said Jet Infraventure in a regulatory filing.

The company has also declared the issuance of 903000 securities, 12% non-convertible redeemable cumulative preference shares (“NCRCPS”) at an issue price of Rs. 325/- (including premium of Rs. 315/- per share) for an amount upto Rs. 29,34,75,000/-.

During FY22, the company recorded net revenue of ₹0.53 Cr compared to ₹0.50 Cr in FY21 and it posted net expenses of ₹0.49 Cr in FY22 vs ₹0.89 Cr in FY21. The company recorded a net profit of ₹0.04 Cr in FY22 compared to a loss of ₹0.39 Cr in FY21, and a net profit margin of 11.41% in FY22. The EPS of Jet Infraventure reached ₹0.20 in FY22 compared to a loss of ₹1.86 in FY21.

The shares of Jet Infraventure closed today on the BSE at a 5% upper circuit limit of ₹35.23 apiece level. In the last 1 year the stock has fallen 62.02% and on a YTD basis, it has fallen 58.60% so far in 2023. The stock has dropped 54.25% over the past six months and 44.56% over the past month. Nonetheless, the stock has appreciated 23.18% during the past 5 trading sessions. 

The stock touched a 52-week-high of ₹109.80 on (14/03/2022) and a 52-week-low of ₹27.55 on (03/03/2023), indicating that at the current market price, the stock is trading 67.91% below the 1-year high and 27.87% above the 1 year low. During Q2FY23, the company recorded a promoter shareholding of 67.22% and a public stake of 32.78%.

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