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PFC gets shareholders' nod to issue bonus shares

Updated at : 2023-09-14 18:20:01

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The PFC had proposed to issue bonus shares by capitalising securities premium account to the extent that each shareholder is entitled to a new equity share of Rs 10 each for every four equity shares of Rs 10 each

According to the red herring prospectus, which was filed on Tuesday, the total size of the IPO is up to Rs 730 crore, comprising fresh issue of shares up to Rs 603 crore and offer for sale of up to Rs 127 crore.

The Indian stock market witnessed a remarkable feat on September 14 as several large cap stocks surged to achieve new all-time highs.

In the first quarter, the Bengaluru-based software exporter provided a sceptical revenue growth guidance of just 1-3% (CC terms) in FY24 as against 14-16% in FY23.

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The Nifty Realty index closed 1.39 per cent up at 589.25.

Zomato reported a surprise net profit of Rs 2 crore for the June quarter, compared to a loss of Rs 186 crore a year ago, and a loss of Rs 189 crore a quarter ago. This was on the back of a sharp 71% growth in revenue to Rs 2,416 crore.

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Investors are alwInvestors are always on the hunt for corporate actions from companies as these events will have an impact on stock prices. ays on the hunt for corporate actions from companies as these events will have an impact on stock prices.

Any decline from here could drag the Nifty towards the immediate support of around 19950 levels. A decisive up move above 20200 levels is expected to pull Nifty towards another hurdle of 20450 levels, said Nagaraj Shetti of HDFC Securities.

The Nifty Realty index was trading 1.86 per cent up at 591.95.

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