The last few trading sessions saw a significant increase in stock delivery volume.
Heritage Foods is in the business of sourcing and processing milk and dairy products, as well as producing solar and wind power for home consumption of dairy products. The company currently serves more than 15 million households every day.
As the record date for correct issuance approaches, the stock could get some excitement. The record date for the issuance of rights for shares at a 1:1 ratio is fixed on January 20, 2023.
Interesting is the fact that the current market price of the shares on the NSE exchange is Rs 367 and the company has offered a rights issue at a price of Rs 5 per share for a total of Rs 1. 2319.90 rough. This means that the rights issue will be at a discount of almost 99% to the current market price of Rs 367. You may think this is a typo or a pipe dream, but think about it. It is true that companies offer rights issues at heavily discounted prices.
The rights issue date is January 30, 2023. Last date for market abandonment of rights entitlements: February 8, 2023. Rights Expiration Date: February 13, 2023.
The last few trading sessions saw a significant increase in stock delivery volume. On January 16th he had 1.95 million shares delivered and on January 17th he had 1.16 million shares delivered. The ratio of delivery volume to transaction volume is 62.50% and 60.53% respectively.
Let us know in the comments section if you choose a rights issue or not.