Home / Markets / Stock Markets /  This stock alters record date for 1:10 bonus shares, promoter stake up by 1.19%

With a market valuation of 362.07 crore, Ruchira Papers Ltd. is a small cap company that engages in the commodity industry. The company manufactures Kraft paper as well as writing and printing paper. Today, a superior 400 TPD paper farm of writing-printing-and Kraft range of products produced by the firm has formed, producing 7 tonnes per day of Kraft paper. The Board of Directors of the firm has changed the record date from October 10, 2022, to October 11, 2022, in order to ascertain the shareholders' eligibility for the 1:10 bonus shares.

The company has said in a regulatory filing that “In continuation of our intimation on 31st August 2022, pertaining to ‘Record Date’, the Company has revised the ‘Record Date’ i.e., Tuesday, October 11, 2022 (instead of Monday, 10th day of October 2022) to determine eligible shareholders entitled to receive Bonus shares in the ratio of 1:10 i.e., 1 (One) new fully paid-up equity share of Rs. 10/- each to be issued for every 10 (Ten) equity shares held."

Additionally, subject to shareholders' approval at the upcoming annual general meeting, the Board has recommended a dividend payment of Rs. 2 per equity share having a face value of Rs. 10 for the fiscal year 2021–2022. The Board has set Saturday, September 10, 2022, as the record date to determine whether shareholders are eligible to receive the final dividend for the fiscal year 2021–2022. Payment of the dividend will be made on or after October 12, 2022, if the Board of Directors' recommendation is accepted at the AGM.

Ruchira Papers Limited's shares closed at 132.70 a piece on Tuesday, up 1.49% from the previous close of 130.75. The stock price has risen from 22 as of 22nd December 2006 to the current market price, which logs in a multibagger return and an all-time high of 503.18%. The stock has dropped 19.13% over the past five years while rising 50.71% during the past three years. The stock has gained 46.47% over the past year, and it has climbed 67.97% YTD in 2022. For the second quarter of the current fiscal or Q2 FY23, the company recorded a promoter shareholding of 67.88% (up by 1.19% QoQ), FIIs holding of 0.18% (down by 0.14% QoQ), and public shareholding of 31.94% (down by 1.05% QoQ).

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).
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