In a notable development, Advani Hotels & Resorts (India) Ltd, a small-cap player in the Hotels & Resorts sector, experienced a sharp surge of 8.26% in morning trade on Monday, following the announcement of a 1:1 bonus issue and a dividend of Rs 2 per share.
The company’s decision to fix March 20, 2024, as the record date for the bonus issue, coupled with the declaration of a 100% interim dividend, propelled its stock to a fresh 52-week high. As of now, Advani Hotels & Resorts shares are trading at Rs 169.40 per share, reflecting the positive market sentiment.
Advani Hotels’ Bonus Issue and Dividend Details:
The exchange filing on March 9, 2024, revealed that the company has set March 20, 2024, as the ‘Record Date’ for the 1:1 bonus issue. This translates to one new fully paid-up Equity Share of Rs 2 each for every existing fully paid-up Equity Share of Rs 2 held by shareholders on the Record Date.
Additionally, Advani Hotels declared an interim dividend of 100%, amounting to Rs 2 per Equity Share for the Financial Year 2023-2024. The ex-dividend date for this dividend was February 9, 2024.
Financial Performance Highlights:
- In Q3FY24, Advani Hotels achieved its highest-ever revenue of INR 3,304 lakhs, marking an 11% YoY growth.
- The Profit Before Tax (PBT) for Q3FY24 stood at INR 1,270 lakhs, reflecting an 8% YoY growth.
- The company is debt-free, and its Liquid Fund Reserves, including Fixed Deposits, amount to INR 4,812 lakhs as of December 31, 2023.
Stock Performance and Returns:
- 52-week high: Rs 175.00 per share
- 52-week low: Rs 66.75 per share
- Last 6 months: +93%
- Last 2 years: +86%
- Last 3 years: +158%
- Last 5 years: +141%
- Last 10 years: +399%
Disclaimer: This information on the bonus share and dividend is for informational purposes only and not a recommendation. No fundamental or technical analysis has been conducted. We are not liable for any losses. Consult a professional advisor for investment decisions.
