Bonus Share News: Choice International Announces 1:1 Bonus Issue; Stock Surges Over 100% in 12 Months, Record Date Awaited

Choice International, a mid-cap stock, disclosed a significant development on January 15, approving a 1:1 bonus issue alongside its financial results for the September-December quarter. This announcement, coupled with robust Q2 performance, propelled the stock to a remarkable 100% surge in the past 12 months.

Company Key Metrics

Bonus Issue Approval

The board of directors greenlit a bonus issue in the ratio of 1:1, meaning shareholders will receive an additional share for each fully paid-up equity share held as of the record date.

Record Date and Share Crediting

The record date for the bonus issue is pending determination, and the company will communicate this information to the exchange soon. Eligible shareholders can expect the bonus shares to be credited within two months from the date of board approval.

Stock Performance

Choice International shares outpaced the domestic benchmark index, witnessing a 100% surge in the last 12 months. The company currently holds a market capitalization of 5,489.58 crores, according to BSE data.

Q2 FY23-24 Results

In the absence of Q3 results, let's revisit Q2 FY23-24. Choice International reported a Profit After Tax (PAT) of Rs 30 crore, showcasing a three-fold growth compared to Rs 8.2 crore in the same period last year. Total revenues soared to Rs 194 crore from Rs 78.5 crore in Q2 FY22.

Revenue Composition

Choice International's revenue streams comprise 60% from stock broking, 30% from advisory services, and the remaining 10% from its non-banking financial company segment.

About Choice International

Incorporated in 1993, Choice International is an integrated and diversified financial services group. It offers a comprehensive array of financial services, encompassing broking, distribution, investment banking, business advisory, regulatory compliances, retail loan distribution, mutual fund distribution, technical services, and other ancillary services.

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