Ujaas Energy hits record high as board OKs 1:4 bonus issue

Ujaas Energy was locked in upper circuit of 5% to Rs 282.70 after its board approved issue of 1 fully paid-up equity share each for every 4 existing fully paid-up equity share each held by the eligible shareholders.

The proposal of bonus issue is subject to the approval of the shareholders of the company.

The firm stated that Rs 13.25 lakh of reserves will be required for implementing the bonus issue. The free reserves stood at Rs 78.60 crore as on 31 March 2024.

The shares will be dispatched within 2 months from the date of approval.

Ujaas Energy is engaged in Generation of solar power and manufacturing, sales and services of solar power plants / projects and manufacturing and sales of Electric Vehicle.

The company reported a net profit of Rs 11.69 crore in Q4 FY24 as against a net loss of Rs 2.90 crore in Q4 FY23. Net sales declined 20.7% YoY to Rs 6.84 crore in the quarter ended March 2024.

The scrip freezed at life high of Rs 282.70 in today's intraday session.

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