Penny Stock Sylph Technologies: Sylph Technologies Limited, a small stock related to IT sector, is in the news these days. It has been continuously in upper circuit since last few trading sessions.
This trend continued on Tuesday, December 15 also. This cheap share, cheaper than Re 1, jumped 10% yesterday. Along with this, upper circuit was installed in it. The reason for the bumper rise in shares is the company’s announcement of bonus shares.
Shares of the company jumped to an intra-day high of Rs 0.97 on Tuesday. Now investors are waiting to receive bonus shares. According to the company, shares of Silph Technologies will trade on ex-date on Wednesday, December 17. That means, if an investor wants to get bonus shares, he will have to buy shares by Tuesday 16th December.
How much bonus share will you get?
The board of the company has decided to give 5:11 bonus shares. That means investors will get 5 free bonus shares for every 11 existing shares. The record date has also been fixed for this, which is 17th December. The company wants to increase liquidity through bonus shares.
Who will get the benefit?
Since the record date is December 17, the shares purchased till December 16 under the T+1 settlement system rule in the Indian stock market will be credited to the demat account till the record date. Only those investors who have purchased shares till this date will be entitled to the bonus. Bonus benefits will not be available on shares purchased on or after December 17.
company business
Silph Technologies Limited was established in 1992 in Indore. The company mainly works in the field of IT and software development. It provides services like customized software, business applications, website development and IT solutions.
The company’s business is not limited to IT alone. It is also active in many sectors like solar power trading, newspaper publishing, education, BPO/KPO, FMCG, distribution, agriculture trading and renewable energy solutions.
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