1:2 Stock Split, 1:1 Bonus Issue: Multibagger Metal Stock Hits 3rd Consecutive Upper Circuit

Small cap stock operating in metal & ferrous sector, Rudra Global Infra Products Ltd shares rallied 298% in last 2-years when Sensex gained 9.74%. The small cap stock traded 3rd consecutive upper circuit. When a particular stock hits upper circuit, trading in it is temporarily suspended to prevent investors from continuously buying the stock at inflated prices. Rudra Global has already declared 1:2 stock split and 1:1 bonus issue and yet to fix the record date for the same. Check details below:

Board Of Rudra Global Gave Nod To Stock Split: According to the regulatory filing of Rudra Global dated October 1, 2023, "With reference to the subject cited above and Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we would like to inform that, Members of the company accorded their consent for Splitting/ sub-division of Equity Share having face value of Rs. 10 /- each fully paid up into Equity Shares having face value of Rs. 5/- each."

Prior to this, Rudra's board on September 5 approved sub-division of shares in the ratio of 1:2. According to the regulatory filing dated September 5, 2023, "With reference to the subject cited above, this is to inform you that Board of Directors of the Company in their meeting held on today (i.e. September 05, 2023) has considered and approved Proposal of Split/sub- division of Company's 1 (one) equity shares of face value of Rs. 10/- each into 2 (two) equity shares of face value of Rs. 5/-each and subsequent alteration to the Memorandum of Association of the Company."

Rudra Global Announced Bonus Share: The company approved bonus issue in the proportion of 1:1. As per the BSE filing, "With reference to the subject cited above, this is to inform you that Board of Directors of the Company in their meeting held on today (i.e. September 05, 2023) has considered and approved the Issue of Equity Shares by the way of Bonus Issue in the ratio of 1:1 [i.e. 1 (One) fully paid up equity share for every 1 (One) equity share]."

Rudra Global Stock Performance, Return In Last 5-Years: Current market price of Rudra Global share is Rs 110.15 per share with intraday gain of 1.99%. Rudra Global shares hit third upper circuit in a row today. Its market capitalisation is Rs 276.32 crore. Rudra Global stock gained 1.90% in last 1-week only, fell 12% in last 1-month, soared 19% in last 3-months, gained 34% in last 6-months, and rallied over 2% in last 1-year. In last 2-years, Rudra Global shares gave maximum returns with shares soaring 297%. In last 5-years, Rudra Global stock witnessed maximum decline with shares falling 40%.

Rudra Global Quarterly Results: The company for the quarter ended June 30, 2023 declared a rally of 1.86% in its consolidated total income at Rs 138.31 crore as against its previous quarter total income of Rs 135.78 crore. Rudra Global announced its latest quarter net profit after tax at Rs 4.40 crore.

About Rudra Global: It operates in the steel industry. Rudra Global manufactures TMT bars and Billets and trades in Cement. It is engaged in various businesses like Ship recycling, oxygen plant, Induction Furnace, Re-rolling mill, producing more than 2 Lakh MT per annum of steel, with a group turnover around 1000 crore per annum.

Disclaimer: The stock just highlights the bonus issue, stock split and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.