Arunjyoti Bio Ventures Ltd has canceled its plan to issue bonus shares that was to be considered at a board meeting. This follows as the company is under huge selling pressure and consecutive losses in the stock market.
Key Highlights:
Cancellation of Bonus Issue: The bonus issue proposal consideration board meeting was originally scheduled for March 24, 2025, but was subsequently postponed to April 7, 2025. Now, the proposal is cancelled.
Market Performance: Arunjyoti Bio Ventures has seen a steep fall in its share price, with a year-to-date fall of almost 37%. The stock has fallen below the benchmark market, including the Sensex.
Financial Performance: In spite of recent financial troubles, the company posted a profit after tax of ₹0.16 crore for the nine months ended December 2024. Net sales fell by 20.5% over the same period.
Business Overview: Arunjyoti Bio Ventures is engaged in the FMCG and beverages business, in addition to its current business in bio pesticides, fertilizers, and agri inputs.
The withdrawal of the bonus issue could affect investor sentiments, as bonus shares are usually perceived to be a good sign of future growth and value for shareholders.
Sources: Business Standard, MarketsMojo, Screener.in