This penny stock hit 10% upper circuit on bonus issue record date; details

Penny stocks to buy: Earlier, on January 6, 2025, Gujarat Tool Board had approved to issue bonus shares in the ratio of 5 :1

Penny stocks today, Gujarat Toolroom bonus issue: Gujarat Toolroom share price was locked in its upper circuit in the stock markets today, February 18, 2025. At 11:00 AM, the penny stock was locked at Rs 2.24 per share, up 9.8 per cent on the BSE, as against a 0.33-per cent fall in the benchmark Sensex index.

 

Around 1.24 million shares have changed hands on the counter on the BSE till the time of writing this report.

 

The rally in Gujarat Toolroom share coincides with the stock’s record date for share bonus issue. According to the company’s stock exchange filing, the Board of the company has fixed Tuesday, February 18, 2025 as the 'Record Date' for the purpose of ascertaining the eligibility of shareholders entitled for issue of Bonus Equity Shares of the company.

 

 

That is, those investors who have Gujarat Toolroom shares in their portfolios today, will receive the bonus issue of the company.

 

Earlier, on January 6, 2025, Gujarat Tool Board had approved to issue bonus shares in the ratio of 5 :1, which means shareholders, holding one equity share of the company (of Re 1 each) in their portfolio, will receive five equity shares of Re 1 each of the company.

 

Gujarat Toolroom Limited is engaged in the development and operation of mines and minerals, along with other allied activities. Headquartered at Ahmedabad, Gujarat, it has operations spanning across Dubai, and Zambia, as per its website.

 

Gujarat Toolroom stock falls under ‘X’ category of shares and follows a ‘T+1’ settlement cycle.

 

The company has a market capitalisation of Rs 311.9 crore with a price-to-earnings (P/E) multiple of 2.99x.

 

Meanwhile, Gujarat Toolrooms has deferred the release of its October-December quarter results.

 

“Despite the best efforts put in by the management, the company could not close its financial results within the stipulated timelines. Further, we regret to inform you that the delay in the submission of our financial results is primarily due to certain challenges encountered in gathering accurate and timely data from our subsidiaries. The intricacies involved in consolidating and finalising the financials of the subsidiaries caused a slight delay in the overall reporting process,” the company said in a stock exchange filing.

 

Additionally, there has been a temporary vacancy in a critical position within the Key Managerial Personnel (KMP), which contributed to a brief disruption in the smooth flow of operations and internal controls, further impacting our ability to meet the reporting deadline, it added.

 

Nonetheless, Gujarat Toolroom said it is making its best possible effort to finalise and release the financial results at the earliest.

 

“As soon as the financial results duly approved by the Board of Directors are ready, the same will be intimated to the stock exchanges,” it said. It was, originally, scheduled to report its Q3FY25 results on Friday, February 14, 2025.