BackTrading 88% above 52-week-low, aluminium stock announces 1:2 bonus shares
With a market valuation of ₹228 Cr, Hardwyn India is a small-cap company that operates in the aluminium industry.
PremiumWith a market valuation of ₹228 Cr, Hardwyn India is a small-cap company that operates in the aluminium industry. With a worldwide presence spanning over 50 years, Hardwyn is a manufacturer of Door Closers, Floor Springs, Glass Patch Fittings, Point Fixed Architectural Fittings, Shower Enclosure Fittings, Shower Hinges, Plastic Profiles, Mortise Handle & Locks, Spider Fittings, Shower Sliding System, Motion Gate series, Automatic & Shower doors, Stainless steel Railings & Balustrades, Premium range brass & Zinc handles, Cylindrical locks, Furniture locks, Telescopic Channels, Electronic Safes, Bathroom Accessories and Aluminium Profile. The company has announced bonus shares in the ratio of 1:2 and for the purpose of the same the company has announced a record date today.
The company has said in BSE exchange filing that “This is to informed that pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) 2015, it is to inform that the Company has fixed Friday, 22™4 July, 2022 as the “record Date" for the purpose of ascertaining the eligibility of Shareholders entitled for issuance of fully paid up Bonus Shares in the ratio of 1:2 (i.e. issue of 1(One ) equity share for every existing 2(Two) equity shares held of ₹10/- as on the above mentioned record date), each subject to approval of Shareholders."
On the NSE, the stock went up 2.31 per cent and settled at ₹225.95 today from its previous closing of ₹220.85. Year-to-date (YTD) growth of the stock from ₹120 on April 12, 2022, to the present level results in a return of 88.29 per cent. The stock has dropped 8.65 per cent over the past six months, and 3.23 per cent during the past five trading days. At the current price of ₹225.95, the stock is trading 88.29 per cent above its 52-week low and 16.63 per cent below its 52-week high on the NSE, where it reached a 52-week high of ₹271.05 on 9th June 2022 and a 52-week low of ₹120.00 on 12th April 2022, respectively. The stock is trading above the 100-day and 200-day moving averages but below the five-day, twenty-day, and fifty-day moving averages on the current market price.
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