Rs 4/Share Dividend, 1:2 Stock Split: Multibagger Metal Stock Gains 15% In 1-Week

Shares of small cap metals & ferrous sector stock Surya Roshni rallied over 3% intraday today and hit fresh 52-week high on August 30. Board of Surya Roshni on August 11, 2023 fixed August 25, 2023 as the record date for final dividend of Rs 4/- per equity share for FY 2022-23. The company also approved sub-division of equity shares in the proportion of 1:2 and yet to fix the record date for the same. Surya Roshni shares rallied 89% YTD and offered 103% return in last 1-year. Check details below:

Surya Roshni Approves Stock Split: According to the BSE filing of Surya Roshni dated August 11, "This is in reference to our intimation letter dated July 26, 2023, and pursuant to SEBI Listing Regulations, we would like to inform that the Board of Directors of the company at its meeting held today, i.e., August 11, 2023, inter alia, transacted the following business:

Sub-division of existing l(one) equity share of face value oHl0/- each of the Company into 2(two) equity shares of face value of ~5/- each held as on the record date (to be notified later), subject to the approval of the shareholders of the Company.
Fixed Friday, 25th August, 2023 as the Record Date for the purpose of determining entitlement of the Members for payment of Final Dividend for the Financial Year 2022-23."

Surya Roshni Stock Performance & Return: Current market price of Surya Roshni Ltd stock is Rs 976.45 per share with intraday gain of 2.71% on BSE today. The stock's 52-week high price is Rs 983.00 apiece and 52-week low price is Rs 400.85 apiece, respectively. Its market capitalisation is Rs 5312.76 crore. In last 6-months, Surya Roshni shares jumped 46%, gained 89% YTD, witnessed a rally of 103% in last 1-year, and surged 493% in last 3-years only.

Surya Roshni Financials: The leading lighting product and pipe maker announced a sharp two-fold jump in its consolidated net profit to Rs 59.13 crore for the quarter ended June 30, 2023 as against Rs 22.24 crore reported in the preceding quarter, according to its BSE filing. Meanwhile, revenue from operations soared 2% to Rs 1,875.27 crore for the quarter ended June 30, 2023 as against Rs 1,839.89 crore last year.

About: Surya Roshni started in 1973 with making Steel Tubes, and has grown by leaps and bounds to become one of the largest Steel Pipes and Lighting companies in India. With sales of INR 7,997 crores in FY 2021-22, Surya Roshni is one of the largest conglomerates in India, with exports to over 50 countries around the world.

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