BackSmall-cap stock Hardwyn India Ltd jumps after forming new company. Details here
Small-cap stock under ₹50 witnessed buying interest during morning deals despite weak market sentiments on Tuesday
PremiumSmall-cap stock under ₹50: Despite heavy sell off at Indian stock market, Hardwyn India shares have been able to attract buying interest by Dalal Street bulls. After gap up op[ening Hardwyn India share price today ascended to intraday high of ₹38.45 apiece levels on NSE, logging around 2 per cent rise against its Friday close of ₹37.70 apiece. Small-cap stock that traded ex-split in June 2023 for subdivision of stock in 1:10 ratio has remained under base building mode for the last one month, delivering zero return to its positional investors. However, the company attracted bulls' attention after announcement of forming a new company.
Hardwyn India news
As per the exchange filing details available on Indian stock market exchanges, the small-cap company below ₹50 said, "With reference to the captioned subject, Company in its board meeting held today proposes to incorporate Subsidiary in the name and style, ‘SLIMX INTERIOR SOLUTIONS PRIVATE LIMITED’ Registrar of Companies (Delhi), being subscribers and making an investment of ₹20,00,000/- (2,00,000 Equity Shares of ₹10/- each), of which ₹17,00,000/-(1,70,000 Equity Shares of Rs. 10 each) shall be subscribed in the very name of the company."
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
Hardwyn India share history
The small-cap stock is one of the bonus paying stocks on Dalal Street. As per the details available on BSE website, Hardwyn India Ltd has declared bonus shares twice in last one year. It traded ex-bonus on 25th July 2022 for issuance of bonus shares in 1:2 ratio. This means, one bonus share was awarded to the eligible shareholders for holding two shares of the company on bonus share record date.
Earnings preview: Indian IT firms to report soft numbers in Q2FY24
Similarly, the small-cap stock below ₹50 traded ex-bonus on 5th June 2023 for issuance of bonus shares in 1:3 ratio. This means one bonus share was awarded to the eligible shareholder who held three shares of the company on bonus share record date.
On 5th June 2023, the small-cap stock under 50 rupees traded ex-split as well. The small-cap company subdivided its stock in 1:10 ratio in June and shareholding of its shareholders' (who held the stock on stock split record date) shareholding surged 10 times of their shareholding. However, absolute value of their investment remained same after stock aplit and bonus shares. But, ascend in the stock after stock split and bonus shares led to higher return than those who bought the stock after stock split and issuance of bonus shares.
Evergrande shares volatile as trading resumes after suspension
Hardwyn India shares are available for trade on both NSE and BSE. Its market cap is ₹1,337 crore and its current trade volume is 28,247 on NSE. around two hours of trade is still left during Tuesday deals. Its 52-week low on NSE is ₹23.32 apiece whereas its 52-week high on NSE is ₹62.27 per share.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
