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Business News/ Markets / Stock Markets/  Penny stock below 11 approves 775% dividend, scrip at 52-week-low
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Penny stock below ₹11 approves 775% dividend, scrip at 52-week-low

With a market valuation of ₹3.19 Cr, Taparia Tools is a small-cap company that works in the capital goods industry.

The last traded price of Taparia Tools was recorded on 24 February 2023 at a 52-week-low level of ₹10.50 on the BSE with an intraday gain of 5%. (REUTERS)Premium
The last traded price of Taparia Tools was recorded on 24 February 2023 at a 52-week-low level of 10.50 on the BSE with an intraday gain of 5%. (REUTERS)

With a market valuation of 3.19 Cr, Taparia Tools is a small-cap company that works in the capital goods industry. Modern forge shop, machine, heat treatment, polishing, nickel chrome plating, and other production facilities are all part of the company's manufacturing facilities. In addition to its manufacturing space, the plant features a fully furnished Quality Assurance Department and laboratory for rigorous and ongoing raw material testing.

The company said today in a stock exchange filing that its Board of Directors has “1. Considered to pay Interim Dividend for the F.Y. 2022-2023 @ 775% on its 30,35,750 Equity Shares of Rs.10/- each amounting to Rs. 23,52,70,625/- to be paid to those Shareholders whose names appear in the Register of Members on the Record date i.e. 16/03/2023. 2. Recommended the increase in Authorized Share Capital of the Company from Rs.5,00,00,000/- (Rupees five Crores only) divided into 50,00,000/- (Fifty lakh) Equity Shares of Rs. 10/- (Rupees Ten only) each to Rs. 35,00,00,000/- (Rupees Thirty Five Crores only) divided into 3,50,00,000 (Three Crores Fifty Lakh) Equity Shares of Rs. 10/- (Rupees Ten only) each."

During Q3FY23, the company recorded net sales of 193.32 crore, up by 2.37% YoY from Rs. 188.85 crore recorded in Q3FY22. The company reported a net profit of Rs. 19.29 crore during the quarter ended December 2022, up by 6.62% YoY from Rs. 18.10 crore recorded in the quarter ended December 2021. The EPS of Taparia Tools stood at Rs. 63.56 in Q3FY23 compared to Rs. 59.61 recorded in the year-ago quarter.

The last traded price of Taparia Tools was recorded on 24 February 2023 at a 52-week-low level of 10.50 on the BSE with an intraday gain of 5%. In the last 1 year the stock has fallen 4.72%. The stock touched a 52-week-high of 12.14 (13/07/2022) and a 52-week-low of 10.50 (02/03/2022). During Q3FY23, the company recorded a promoter shareholding of 69.72% and a public stake of 30.28%.

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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).
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.
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Published: 04 Mar 2023, 05:11 PM IST
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