Mining Stock Rallies 4.04% After 5:1 Bonus Issue, Soars 690% In 3-Yrs

Small cap company operating in mining sector Sandur Manganese & Iron Ores Ltd shares soared 4.04% today after recommending bonus issue in the proportion of 5:1 that implies shareholders will become eligible to receive 5 bonus shares for every 1 share held as on the record. The iron ore company has yet to decide the record date for the bonus issue. Sandur Manganese shares gained 63% in last 1-month only and soared 690% in last 3-years. Sandur Manganese declared a final dividend of Rs 5.00 per share with the ex-dividend date fixed as September 13, 2023. Check details below:

Sandur Manganese Stock Performance & Return: Current market price of Sandur Manganese share on BSE today is Rs 2564.15 apiece with intraday gain of 2.65%. The stock's 52-week high price is Rs 2800.25 per share and 52-week low price is Rs 695.00 per share, respectively. The company has a market capitalisation of Rs 6926.99 crore. Sandur Manganese shares soared 203% year-to-date (YTD), jumped 243% in last 1-year, and rallied 647% in last 5-years.

Earlier this month on December 7, Sandur Manganese issued a BSE filing stating, "In compliance with the provisions of Regulation 29(1) of SEBI (LODR) Regulations, 2015 as amended from time to time, we wish to inform the Exchanges that a meeting of the Board of Directors of the Company is scheduled to be held at 10.30 am on Monday, 18 December 2023 to consider, inter-alia the proposal for issue of Bonus Shares to the equity shareholders of the Company."

Sandur Manganese Dividend History: Sandur Manganese & Iron Ores announced 22 dividends since August 28, 2002. In the past 12 months, Sandur Manganese announced an equity dividend amounting to Rs 5.00 per share. At the current share price of Rs 2564.15, it offers a dividend yield of 0.19%.

Sandur Manganese Quarterly Results: The company for the quarter ended September 30, 2023 announced its consolidated total income at Rs 202.62 crore, down 46.83% from last quarter total income of Rs 381.05 crore. The company announced its latest quarter net profit after tax at Rs 26.53 crore.

Sandur Manganese About: It is one of India's highly integrated and diversified commodity producers with a rich heritage and over six-and-a-half decades of experience in systematic, safe and scientific mining. Established in 1954, it has since expanded beyond mining operations to include the production of ferroalloys, coke and energy, and continue to work towards further downstream expansion and diversification, according to its official website.

Disclaimer:

The stock just highlights the bonus 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.