After 1:2 Bonus Issue, Small Cap Stock Declares Dividend; YTD Return 266%

Small cap stock operating in electric equipment sector RMC Switchgears today witnessed a sharp rally of 8.19% after Board Of Directors of the company approved interim dividend and fixed November 21, 2023 as the record date. Earlier, this year on September 2, 2023 the company declared its maiden bonus issue in the ratio of 1:2 and fixed October 13, 2023 as the record date. RMC Switchgears shares surged 266% year-to-date (YTD) and rallied 3785% in last 2-years. Check details below:

RMC Switchgears Declares Dividend: According to the BSE filing of the company issued today (November 6, 2023), "This is to inform you that Pursuant to Regulation 42 of the SEBI (LODR) Regulations, 2015, the Company has fixed Tuesday, 21°t November, 2023 as the Record Date for the purpose of ascertaining the eligibility of shareholders entitled for Dividend on Equity Shares of the Company at the rate of 2% per share (i.e. Re. 0.20 per share) for the total amount of Rs. 20,61,660.00 (Rs. Twenty Lakh Sixty-One Thousand Six Hundred Sixty), which shall be paid on/before 05"" December, 2023."

RMC Switchgears Traded Ex-Bonus On Oct 13: The Company fixed Friday, 13th October, 2023 as the "record date". For the purpose of ascertaining the eligibility of shareholders entitled for issue of Bonus Equity Shares of the Company in the ratio of 1:2. i. e. 1 (One) New Equity Share of Rs. 10/- each for every 2 (Two) Existing Equity Shares of Rs. 10/- each which was recommended by the Board of Directors of the Company vide its meeting held on Saturday, 2nd September, 2023 and for which approval of the shareholders have already been obtained at Annual General Meeting of the Company held on Saturday, 30th September, 2023."

RMC Switchgears Stock Performance & Return: Last trading price of RMC Switchgears share on BSE is Rs 648.15 per share. Its 52-week high price is Rs 673.95 apiece and 52-week low price is quoted at Rs 124.20 apiece, respectively. The company's market capitalisation is Rs 668.13 crore. RMC Switchgears shares soared 216% in last 1-year, rallied 3785% in last 2-years, and surged 5974% in last 3-years. In last 5-years, RMC Switchgears stock rallied 1805%.

RMC Switchgears Received LoA from Maharashtra Govt: The company received LoA from Maharashtra government on September 16 and declared in its regulatory filing, "The Company in Joint Venture with Continental Petroleums Limited, has received order for 'Supply of Plant and Installation including Civil Contract' covering inter-alia supply of plant, installation and Civil on FOR (Final place of destination [Satara Circle]}) basis inter-alia including' design, engineering, manufacture, testing, transportation, insurance etc. and other services incidental thereto, for value of Rs. 11,283.45 lacs (excluding GST) required for the complete execution at Satara Circle/s under Baramati Zone of MSEDCL, Maharashtra State, under RDSS."

RMC Switchgears About: RMC Switchgears seeks to protect the electric ecosystem of India. RMC Switchgears first began its work under the name of RFH Metal Castings Pvt Ltd In 1994. Ever since, the company expanded exponentially, gone under a major rebranding, delivered exceptional products and impacted the electrical industry positively. With equipment made in plastics, fibre reinforced plastics and sheet metals, RMC Switchgears also offers end-to-end solutions including Engineering, Procurement and Construction, according to its official website.

Disclaimer:

The stock just highlights the bonus share, dividend 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 ay losses. Please consult a professional advisor.