Board of multibagger metal stock fixes record date for bonus shares | Mint
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Business News/ Markets / Stock Markets/  Board of multibagger metal stock fixes record date for bonus shares
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Board of multibagger metal stock fixes record date for bonus shares

Ram Ratna Wires Ltd., a small cap company with a market cap of Rs. 615.45 Cr., is engaged in the metal industry.

Ram Ratna Wires Ltd. is a subsidiary of RR Global, one of the major conglomerates in the copper and electrical industries. (istockphoto)Premium
Ram Ratna Wires Ltd. is a subsidiary of RR Global, one of the major conglomerates in the copper and electrical industries. (istockphoto)

Ram Ratna Wires Ltd., a small cap company with a market cap of Rs. 615.45 Cr., is engaged in the metal industry. Ram Ratna Wires Ltd. is a subsidiary of RR Global, one of the major conglomerates in the copper and electrical industries. The company is India's second-largest producer of super enamelled copper winding wires. A variety of superior winding wires, paper covered strips, enamelled aluminium wire, copper strips, superfine winding wires, submersible winding wires, and flat cables are supplied by the company.

Today the company has said in a regulatory filing that “This is with reference to our earlier communicated dated 10th August, 2022 intimating the record date fixed by the Company for the purpose of determining the entitlement for issue of Bonus Equity Shares. With reference to our communication with the representatives of the Stock Exchanges, i.e. BSE and NSE, and as per Regulation 42 of Listing Regulations we have been advised to keep a gap of 5 (Five) working days between the date of the ensuing Annual General Meeting scheduled to be held on Wednesday, 21st September 2022 (the "AGM") at which the resolution relating to issue of Bonus Equity Shares is proposed for approval and the Record Date fixed for the purpose. In view of the above, we wish to intimate the Stock Exchanges and all the Stakeholders that the Revised Record Date for the purpose of ascertaining the eligibility of shareholders entitled for issue of Bonus Equity Shares of the Company in the proportion of 1 (One) Bonus Equity Share of Rs. 5/- for every 1 (One) existing Equity Share of Rs.5/- held in the Company, subject to approval by the Members at the AGM, will be Thursday, 29th September, 2022."

On the NSE, Ram Ratna Wires Limited shares ended trading on Thursday at 280.00 per share, up 0.054% from the previous close. The stock has gained 18.62% YTD so far in 2022. The stock has produced a multibagger return of 326.45% over the past three years, and a multibagger return of 105.25% over the past year. The stock is trading above the 20-day, 50-day, 100-day, and 200-day moving averages but below the 5-day moving averages, at the current market price.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 18 Aug 2022, 09:13 PM IST
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