This multibagger aluminium stock recommends 1:2 bonus issue: Key takeaways
Hardwyn India Ltd is a small-cap company with a market capitalization of ₹222 Cr that operates in the aluminium industry. In its Board meeting held on 13th June 2022, the company declared a bonus share issue in a ratio of 1:2.
Hardwyn India Ltd is a small-cap company with a market capitalization of ₹222 Cr that operates in the aluminium industry. In its Board meeting held on 13th June 2022, the company declared a bonus share issue in a ratio of 1:2.
The Board of Directors of the Company at their meeting held on Monday 13 June, 2022, has inter alia recommended the issue of Bonus shares in the proportion of ratio of 1:2 [i.e. 1 (One)] fully paid up Equity shares for every 2 (Two) Equity shares held] to the shareholders on such date (Record Date) as may be determined by the Board of Director(s) of face value of Rs.10/- (Rupees Ten) each subject to the approval of Members of the company and other approvals, consents, permissions, conditions and sanctions, as may be necessary," the company has said in a BSE exchange filing.
The company have also informed BSE that its Board of Directors has approved “Increase in Authorized share Capital of the Company from Rs.10,25,00,000 (Rupees Ten Crore Twenty Five Lakh) divided into 1,02,50,000 (One Crore Two Lakh Fifty Thousand) Equity Shares of Rs.10/- (Rupees Ten) each to Rs. 15,60,00,000/- (Rupees Fifteen Crore Sixty Lakh only) divided into 1,56,00,000 (One Crore Fifty Six Lakh) Equity Shares of Rs.10/- (Rupees Ten) each by creation of additional 53,50,000 (Fifty Three Lakh Fifty Thousand) Equity shares of Rs. 10/- (Rupees Ten) each and consequent amendment to clause V of the Memorandum of Association of the Company, subject to the approval of the shareholders of the Company."
Hardwyn India is a multibagger stock in 2022, with a gain of 164.33 per cent so far this year. In the previous year, the company has provided its shareholders with a multibagger return of 236.66 per cent, and in the last three years, the shares of Hardwyn India have delivered its shareholders a gigantic multibagger return of 2229.79 per cent. The stock closed today at ₹219.00, a 2.95 per cent decline from its previous close of ₹224. Based on the last traded price, the stock is trading higher than the 50 days, 100 days, and 200-day moving averages but lower than the 5-day and 20-day moving averages.
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