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180% Rally In 1 Year! This Small Cap Stock Approved 1:1 Bonus Shares
Shriram Pistons & Rings Ltd. last on Jun 13, 2023, informed the NSE that it has approved the Bonus Issue of Equity Shares in the Proportion of 1:1. The Bonus Issue is subject to shareholders' approval in the forthcoming AGM.
Recently, the Board also informed the NSE that it has postponed the date of the 59th Annual General Meeting, which was scheduled on Tuesday, Jul 04, 2023. The new AGM date is Thursday, Jul 07, 2023.
Issuance of Bonus Equity Shares
According to an exchange filing by the Board of Directors of Shriram Pistons & Rings Ltd., "Approved the Bonus Issue of Equity Shares in the proportion of 1:1 i.e. 1 (one) fully paid-up Equity Share of Rs. 10/- each for every 1 (One) fully paid-up Equity Shares of Rs. 10/- each held by the shareholders of the Company, subject to shareholders' approval in the ensuing Annual General Meeting (AGM). The Bonus equity shares shall rank pari-passu in all respects with the existing fully paid-up equity shares of the Company and consequent to the same the revised paid-up share capital of the Company will be changed in the following manner;"
| Particulars | No. of Shares | Face Value | Amount in (Rs) |
|---|---|---|---|
| Paid-up Share Capital (Pre-Bonus Issue) | 22024912 | Rs. 10/- each | 220249120 |
| Paid-up Share Capital (Post-Bonus Issue) | 44049824 | Rs. 10/- each | 440498240 |
Stock Movement
On Friday, the stock of Shriram Pistons & Rings ended at Rs 1890.25 apiece on NSE. It has fallen 0.3% in the past 1 week, while jumped 21.73% in the past 1 month.
It jumped 88.22% in the past 3 months. It gave 180.04% multibagger return in the past 1 year. In 3 years, it gave 218.22% positive return. In 5 years, it gave 32.04% positive return.
The stock recorded its 52-week high on Jun 28, 2023, at Rs 2179 and 52-week low on Jun 29, 2022, at Rs 653.10, respectively.
Shriram Pistons & Rings is a small-cap company that operates in the Auto Ancillary sector. It has a market capitalisation of Rs 4,382.30 Crore.
Disclaimer
The stock just highlights the Bonus Shares and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.
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