Dividend paying stock trades ex-bonus today after giving 700% return in 3 years

Bonus shares 2022: Shares of Precision Wires India Ltd are one of the stocks in focus today as the small-cap share is trading ex-bonus stock today. The board of directors of the company has fixed 22nd December 2022 as record date for issuance of bonus shares. The small-cap company board has already declared bonus shares in 1:2 ratio, which means one bonus share for every two shares held by the shareholder on record date for bonus shares.

As expected, the bonus paying stock has attracted huge buying interest by stock market investors despite weak sentiments in Indian stock market today. Precision Wires India shares today opened upside with a huge gap up margin and went on to hit intraday high of ₹79.50 apiece on NSE, ascending to the tune of near 13 per cent within few minutes of stock market's opening bell. However, the stock soon witnessed profit booking and is currently available at ₹73.55 apiece levels, around 5 per cent up from yesterday's close of ₹70.15 apiece on NSE.

Informing Indian bourses about bonus shares record date, Precision Wires India Ltd said, "In Furtherance to our communication dated 14th November, 2022, 29th November, 2022 and 14th December, 2022 we hereby inform that the Board of Directors of the Company ("Board") at its meeting held on 16th December, 2022 has allotted 5,78, 18,115 equity shares of each as fully-paid up bonus equity shares, in the ratio of One equity share for every two equity shares, to eligible Members whose names appear in the register of Members/list of beneficial owners as on 22nd December, 2022, being the record date fixed for this purpose."

In one of its earlier exchange communication in November 2022, Precision Wires India Ltd had informed, "The Board unanimously considered and approved bonus issue of 1 (one) equity share for every 2 (Two) equity shares held by the Shareholders of the Company as on the record date."

Precision Wires India share price history

This multibagger small-cap stock is one of those shares that has given strong upside movement in post-Covid rebound. In April 2020, this small-cap stock was available at ₹13.50 apiece levels and today it is quoting ₹79 apiece. This means, this small-cap multibagger stock has delivered to the tune of 700 per cent return in this near 3 years time horizon. This has happened despite the stock being under sell off stress for the last one month, losing more than 25 per cent in this time.

Dividend paying stock

This small-cap stock is one of the dividend paying stocks on Dalal Street as well. The small-cap stock traded ex-dividend in February 2022 and August 2022. In 2021, the multibagger stock traded ex-dividend in February, August and November. In the year 2020, it traded ex-dividend in February and November.