Bonus Share News: Sinclairs Hotels Announces Bonus Issue Record Date, Hits Record High

Bonus Share News: Early today trading saw record highs for shares of multibagger Sinclairs Hotels Ltd. following the announcement of the record date for its bonus issue by the firm. To determine which shareholders are eligible to receive fully paid-up bonus shares, the hotel player set January 29 as the record date. Bonus shares will be distributed at a 1:1 ratio. The multibagger stock increased 7.10% in early BSE trading to reach a record high of Rs 260.

Market Value Surge

Prior to this, Sinclairs Hotels' stock opened at Rs 248.75, up. Market value of Sinclairs Hotels increased to Rs 656 crore. A total of 1.07 lakh shares were traded on the BSE, generating a turnover of Rs 2.74 crore. With a one-year beta of 0.2, Sinclairs Hotels stock exhibits extremely little volatility throughout that time.

Technically speaking, Sinclairs Hotels' relative strength indicator (RSI) is 80, indicating that it is trading in the overbought area. The moving averages of five, ten, twenty, fifty, hundred, 150, and 200 days are all being exceeded by the stock's current trading price. The stock has increased by 21% so far this year and has increased by 138.03% in a year. In a year, it has produced returns of 122%.

Record Date Announcement

In a stock exchange filing Sinclairs Hotels said, "Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Monday, January 29, 2024, as the 'Record Date' for the purpose of ascertaining the eligibility of Shareholders for the issuance of fully paid-up Bonus Shares in the ratio of 1:1 (i.e. One equity share of Rs. 2/- each fully paid up for every One existing equity share of Rs. 2/- each), subject to approval of Shareholders which is being obtained in an Extra Ordinary General Meeting of the Company scheduled on January 18, 2024."

Operational EBITDA

In the September 2023 quarter, Sinclairs Hotels recorded a net profit of Rs 1.3 crore, up from Rs 1.6 crore during the same time the previous year. Operating revenue increased to Rs 10.3 crore in Q2 from Rs 9.3 crore in the same time last year.

In terms of operations, the company's September quarter earnings before interest, taxes, depreciation, and amortisation (EBITDA) was Rs 1.1 crore, down from Rs 2.3 crore in the corresponding period of the previous year.

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