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Business News/ Markets / Stock Markets/ This multibagger stock to turn ex-spilt, ex-bonus on June 5, do you own it?

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This multibagger stock to turn ex-spilt, ex-bonus on June 5, do you own it?

1 min read 04 Jun 2023, 07:59 PM IST Join us

Nikita Prasad

The company had informed exchanges that its board has approved the stock split in the ratio of 1:10 and approved bonus in the ratio of 1:3.

Hardwyn is aa leading producer of architectural hardware and glass fittings

Shares of leading architectural hardware maker Hardwyn India will trade ex-split and ex-bonus from June 5, 2023 - the record date set by the company for the twin corporate actions. Hardwyn has emerged as a multi-bagger stock with triple-digit percentage gains in a matter of one year.

The company had informed exchanges that its board has approved the stock split in the ratio of 1:10 and approved bonus in the ratio of 1:3. The face value will be sub-divided from ₹10 to ₹1, according to a regulatory filing by the company. The architectural hardware manufacturer will also issue one share as a bonus for every three shares.

Also Read: Multibagger stock Hardwyn India hits 20% upper circuit ahead of ex-date for 1:3 bonus issue

"The company has fixed, Monday, 05th June 2023 as the record date, for the purpose of sub-division of equity shares (all the Authorized, Issued, Subscribed and Paid-up Equity Shares of nominal value of ₹10/- (Rupees Ten Only) each shall stand sub-divided into 10 (Ten) Equity Shares of nominal value of Re. 1/-(One Rupee) each fully paid-up," the company said.

"Issuance of Bonus Equity Shares of the company in the proportion of 01 (One) Equity Shares of Re. 1/- each for every 03 (Three) existing Equity Share of Re. 1/- each," it added.

Last month, the company also declared its financial results for the quarter and year-ended period on March 31, 2023. In Q4FY23, Hardwyn India reported a net profit of ₹3.73 crore, up by 125 per cent year-on-year. However, the company's revenue declined by 11 per cent year-on-year to ₹29.88 crore.

The company's shares have surged about 6,000 per cent from its value of ₹7 in August 2020 and the stock has turned 60x in less than three years. On June 2, shares of Hardwyn India settled 19.90 per cent higher to ₹623.35 apiece on the BSE. The firm commanded a market capitalisation of ₹1,631.08 crore.

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ABOUT THE AUTHOR

Nikita Prasad

Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at nikita.prasad@htdigital.in.