This sin stock hits new 52-week high as board to mull first bonus issue: Check details

VST Industries share price, VST Industries board meeting: The stock stock VST Industries rallied sharply by as much as 12 per cent  in early trade on Friday (July 19) and marked its fresh 52-week high price at Rs 4,625.10 as the company’s board announced its board meeting on July 25 (Thursday) for considering its Q1FY25 earnings and bonus share issue.

For the unversed, a sin stock is a publicly traded entity involved in a business that is considered unethical or immoral. Sin stock sectors include alcohol, tobacco, gambling, sex-related industries, and weapons manufacturers. 

At the last count, shares of the company traded higher by 10.8 per cent at Rs  4,571.45 apiece on the BSE.

After market hours on the previous day, the company in an exchange filing said, “we inform that a meeting of the Board of Directors of the company will be held on Thursday, July 25, 2024 inter-alia to consider and approve the Unaudited Financial Results of the Company (Standalone) for the quarter ended June 30, 2024.”

It is hereby informed that the Board of Directors of the Company may consider issue of Bonus Shares in the aforesaid Board Meeting, it added.

If approved this will be the company’s maiden bonus share issuance. Bonus shares are issued in a certain proportion only to the existing shareholders for distributing the company’s profits among its shareholders. 

During the March-ended quarter of the previous fiscal year, the company’s total revenue from operations stood at Rs 475.98 crore, PAT, however, came in at Rs 88.2 crore.

VST Industries share price performance

The stock of VST Industries over the last one year has scaled nearly 31 per cent.

About VST Industries

VST Industries Limited is engaged in the manufacture of cigarettes containing tobacco and unmanufactured tobacco. The company’s peers include ITC, Godfrey Phillips
 And NTC Industries among others.