Home / Markets / Stock Markets /  Multibagger stock sets record date for 1:2 bonus shares, rallies 200% in 3 years

With a market worth of 1,202.62 crore, Precision Wires India Ltd. is a small-cap business that serves the industrial industry. Precision Wires India Ltd. (PWIL), founded in 1989 by Atlas Wires Ltd. (Atlas) and Mahendra Mehta and family, is the largest manufacturer of winding wires in South Asia, with an installed capacity of around 40000 MT/year. The Board of Directors at their meeting held today has fixed record date in order to determine the eligibility of the shareholders for the purpose of 1:2 bonus shares.

The company has said today in a stock exchange filing that “Pursuant to Regulation 42 of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that Thursday, 22nd December, 2022 is fixed as the Record Date, for the purpose of ascertaining the eligibility of shareholders for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) new fully paid up equity shares of Rs. 1/- each for every 2 (Two) fully paid up existing equity share of Rs. 1/- each held, subject to the approval of Members which is being obtained by way of Postal Ballot through remote e-voting. The result of Postal Ballot will be declared on Wednesday, 14th December, 2022."

In Q2FY23, the company reported net sales of 721.31 Cr compared to 706.64 Cr in Q2FY22, representing a YoY gain of 2.07%. The company reported a total expense of 706.38 Cr in the quarter that ended September 2022 compared to 688.11 Cr in the year-ago quarter. In Q2FY23, the firm posted a profit before tax (PBT) of 19.60 Cr, down from 20.73 Cr in Q2FY22 by 5.45% YoY. In Q2FY23, the firm reported a net profit of 14.66 crore, down from 14.97 crore in Q2FY22 and a YoY decline of 2.07%. In Q2FY23, the EPS was 1.27 per share, down from 1.29 in Q2FY22.

The pre-bonus share capital is 11,56,36,230 and the post-bonus share capital will be 17,34,54,345. 5,78,18,115 equity shares are proposed to be issued in total as bonus securities. The anticipated date that these bonus shares would be credited or distributed is within two months of the day that the Board Meeting approved them, or by the 9th of January 2023. Precision Wires India Ltd. shares ended trading today at Rs. 103 per share, up Rs. 1.98% from the previous close of Rs. 101 apiece. In trade today the stock recorded a total volume of 258,596 shares compared to the 20-Day average volume of 410,413 shares. The stock has produced a multibagger return of 133.08% over the past five years, while the scrip has delivered a multibagger return of 235.61% during the past three years. The stock has appreciated 73.40% over the past year, and it has climbed 43.75% YTD in 2022.

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).
Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout