MUMBAI - Shares of Sinclairs Hotels Ltd have soared to an all-time high, crossing the Rs 250 mark on the Bombay Stock Exchange (BSE). This surge has significantly increased the company's market capitalization, now exceeding Rs 650 crore. The stock's robust performance comes ahead of a key shareholder meeting scheduled for later this week.
The upcoming meeting on Wednesday is critical as shareholders will discuss and potentially approve a proposed bonus share issue. If agreed upon, the bonus issue will grant shareholders one additional share for every share currently held. This move is often seen as a way to reward shareholders and increase the liquidity of a company's stock.
Furthermore, Sinclairs Hotels Ltd has announced that January 29 will serve as the record date for shareholders to be eligible to receive the announced bonus shares. This means that shareholders who own the stock as of that date will be entitled to the bonus shares.
Despite a slight dip in net profit year-over-year, Sinclairs Hotels has reported revenue growth and sustained a stable EBITDA, indicating a solid financial performance. The market appears to be responding favorably to the company's overall health and the prospects of the forthcoming bonus issue.
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