1:1 Bonus Issue: Forging Co Issues Record Date Post Mkt Hrs, To Reward Bonus Shares In July

Small cap company MM Forgings Ltd today fixed July 16, 2024 as the record date for 1:1 bonus share. Current market price of MM Forgings share on BSE is Rs 1296.00 per share with intraday gain of 1.98%. MM Forgings shares offered return of 47% in last 3-months and gained 41% in last 1-year. Earlier, on May 29, 2024 MM Forgings recommended bonus share in the proportion of 1:1 implying shareholders will become eligible to receive 1 bonus share for every share held as on July 16. Number of FII/FPI investors surged from 35 to 37 in March 2024 quarter.

FII/FPI increased holdings from 1.93% to 2.28% in March 2024 quarter. Institutional Investors reduced holdings from 16.40% to 14.11% in Mar 2024 quarter. The market capitalisation of the company stood at Rs 3,128.65 crore as on July 8, 2024. It also announced an interim dividend of Rs 8/share and fixed June 7, 2024 as the record date. Check key details below:

MM Forgings Issues Record Date: As per the BSE filing of MM Forgings issued as on July 8, 2024, "In furtherance to our letter dated 29 May 2024 and 08 July 2024 and pursuant to Regulation 42 of Listing Regulations, we wish to inform you that the Company has fixed Tuesday, 16 July 2024 as the record date for ascertaining eligibility of Members who shall be entitled for allotment of bonus equity shares in the ratio of 1:1 i.e., 1 (One) Equity Share of Rs 10/- each for every 1 (One) existing Equity Share of Rs 10/- each."

MM Forgings Share Performance: The 52-week high price of MM Forgings share on BSE is Rs 1,352.40 per share (as on 03/07/2024) and 52-week low price is Rs 831.00 per share (as on 27/10/2023). MM Forgings shares gained over 9% in last 1-month, soared 46% in last 2-years, zoomed 66% in last 3-years, and offered return of 181% in last 5-years.

MM Forgings Q4: It declared a jump of 36.47% in its standalone net profit for the quarter ended March 31, 2024 to Rs 38.62 crore as compared to Rs 28.30 crore declared in the corresponding quarter of last year. Total standalone income of MM for the March 2024 quarter announced at Rs 395.76 crore as against Rs 378.65 crore announced in the corresponding quarter of last year. MM Forgings declared its revenue from operations at Rs 387.92 crore for March 2024 quarter from Rs 372.45 crore declared in March 2023. Total standalone expenses for the quarter under review announced at Rs 344.13 crore as against Rs 334.31 crore declared in March 2023.

About: M.M. Forgings Limited is engaged in the manufacturing and sale of iron and steel forgings in India. The company offers steel forgings in raw, semi-machined, and fully machined stages in various grades of carbon, alloy, micro alloy, and stainless steels in the weight of 0.20 Kg to 60 Kg. It also manufactures closed die forgings and exports its forgings primarily to OEMs in the North American and the European markets. The company was formerly known as Madras Motors Limited and changed its name to M.M. Forgings, according to its LinkedIn profile.

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