Penny stock under ₹2 hits upper circuit on 1:2 bonus shares, 100% dividend buzz | Stock Market News
Source: Live Mint
Penny stock Thinkink Picturez jumped 5 per cent to hit its upper circuit of ₹1.94 in intraday trade on BSE on Monday, December 9, extending gains into the second consecutive session amid bonus shares and dividend buzz. Thinkink Picturez share price opened at its upper price band at ₹1.94 on Monday against its previous close of ₹1.85.
Thinkink Picturez to mull bonus shares, 100% dividend
In an exchange filing on December 5, they informed through an exchange filing that the meeting of the board of directors of the company is scheduled to be held on Monday, December 16, to consider a bonus issue and a 100 per cent dividend on equity shares. The board will evaluate a strategic proposal to expand into the global entertainment market by venturing into Hollywood.
“The board will consider a proposal to issue two bonus shares for every one share held by eligible shareholders. This initiative reflects the company’s commitment to rewarding its shareholders for their trust and support while also enhancing the liquidity of its stock in the market,” said the company.
“The board will deliberate on a proposal to declare a 100 per cent dividend on equity shares, underscoring the company’s strong financial performance and commitment to returning value to its shareholders,” it said.
“The board will evaluate a strategic proposal to expand into the global entertainment market by venturing into Hollywood. The focus will be on creating dedicated cinematic universe genres, leveraging the company’s creative strengths and strategic collaborations to meet the rising global demand for interconnected cinematic experiences,” said Thinkink Picturez.
Thinkink Picturez share price trend
The stock hit its 52-week high of ₹11.75 and a 52-week low of ₹1.70 on December 5 this year. The stock has been under pressure over the last year, falling about 76 per cent. According to Trendlyne, an equity research platform, the stock is down 41 per cent in the last one month, 27 per cent in the last three months and 14 per cent in the last six months.
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