Priti Merchantile buzzing on bonus issue

Small cap stocks, Priti Mercantile had hit a new 52-week high on Friday at Rs.790.05 and today, it has once surged to hit a new high at Rs.848.90.

A NBFC, which got listed on the bourses in March 2012, announced on 6th March that it  has fixed March 15, 2014 as the Record Date for the purpose of issue of Equity Shares of Rs. 5/- each as fully paid-up Bonus Shares to Equity Shareholders in the proportion of 8 (Eight) Equity Shares for every 10 (Ten) Equity Shares held. A company whose FY13 net profit was Rs.1.5 crore on a Rs.8.5 crore revenue is no great shakes. Promoters holding is at a pitiable 15.73% with no FII or DII holding, with entire balance – 84.27% being held by the public float. Bonus or no bonus, stay away from such traps.