Small-cap stock Hardwyn India gains 4% after entering President of India portfolio
Hardwyn India, a small-cap stock in architectural hardware, gained attention after being included in the President of India's portfolio with a 0.46% stake. The company saw a 4.24% rise in share price, despite a significant decline over the past year.
President of India portfolio: Small-cap stock Hardwyn India, which manufactures and sells architectural hardware and glass fittings for residential and commercial buildings, hogged the limelight in trade on Monday, January 20 after the company entered the President of India portfolio during the December quarter.
According to the latest shareholding pattern filed Hardwyn India, the stock was part of the President of India's portfolio, with 22,68,924 shares, representing a 0.46% stake in the company. In the September quarter, the President did not hold any stake in the company. Investors must note that buying and selling decisions are taken by the central government of India in the name of the President.
The small-cap stock is heavily owned by the individual retail investors. According to the December quarter shareholding 58,325 retail investors held a 8.10% stake in Hardywn India as against a 4.78% stake held by 35,789 investors in the September quarter.
Hardwyn India Share Price Trend
Hardwyn India share price gained 4.24% on Monday, January 20 to ₹18.90 apiece on the BSE. The stock has fared poorly off late, declining 40.5% in a year, 12% in six months, 33% in three months and 9% in the last one month.
The company recently executed a bonus share allotment. "Board of directors of Hardwun India... have allotted 13,95,52,587 Equity shares of Rs. 1/- each as fully paid Bonus Shares to the existing shareholders of the Company as on record date December, 27th, 2024 in the ratio of 02:05," the company said in a regulatory filing on December 30.
The company has consistently rewarded its investors as this was the third bonus share allotment by the company since 2022.
Earlier in June 2023, the company had allotted bonus shares in the ratio of 1:3. Prior to that the company had allotted bonus shares in a 1:2 ratio in July 2022.
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