Small Cap Stock Announced 1:1 Bonus Shares, Fixed Record Date For Rs 6/Share Dividend

GNA Axles Ltd., on Friday, July 21, 2023, announced the issue of bonus shares in the ratio of 1:1 i.e. 1 equity share of Rs 10/- each for 1 equity share of Rs 10/- each. The company also fixed Aug 11, 2023, as the record date for the payment of a dividend of Rs 6/share on the pre-bonus capital of the company.

GNA Axles is an Auto Components company engaged in the business of manufacturing auto components for four-wheelers. It is a small-cap company with a market cap of Rs 2,008.41 Crore.

1:1 Bonus Shares

"Recommended Issue of Bonus Shares in the ratio of 1:1, i.e. 1 (One) Equity Share of Rs. 10/- each for every 1 (One) Equity Share of Rs. 10/- each, held by the shareholders of the Company as on the record date, subject to the approval of shareholders to be obtained by Postal Ballot," the company said in an exchange filing.

Dividend & Record Date

"The Company has fixed August 11th, 2023 as record date for for the purpose of payment of Dividend @ Rs. 6/- per Equity Share on the Pre Bonus Capital othe Company i.e Rs. 6/- per Equity Share on 2,14,65,400 Equity Shares of the Company," the company said in an exchange filing.

Stock Outlook

GNA axles stock last traded at Rs 935.65 apiece, up 7.19% compared to the previous close of Rs 915.60 per share. The stock hit an intraday high of Rs 954 apiece and an intraday low of Rs 910 apiece on the BSE.

The stock surged 1.90% in 1 week. It gained 15.28% in 1 month, 18.28% in 3 months and 32.42% in 6 months, respectively. It jumped 52.95% in 1 year, and 80.35% in 2 years, respectively. It has given a maximum 446.68% positive return in 3 years, while in 5 years, it gave 135.68% positive return.

The stock recorded its 52-week high on Feb 24, 2023, at Rs 977 apiece and 52-week low on Aug 04, 2022, at Rs 554.75 apiece, respectively.

Disclaimer

The stock just highlights the Dividend & 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.