1:1 Bonus, Record Date - Nov 29: Stock Up 30% In 1-Month, Rekha Jhunjhunwala Gains Big; When Bonus To Credit?

Bonus Issue: Smallcap electrical company, Raghav Productivity Enhancers witnessed buying sentiment on Wednesday, November 27, 2024, ahead of its bonus issue in the ratio of 1:1. Notably, Raghav stock has seen a massive surge of nearly 30% in a span of 1 month. And this stellar performance makes ace investor Rekha Jhunjhunwala one of the biggest winners among public shareholders.

Raghav Productivity Enhancers Share Price:

The smallcap stock rose more than 2% on BSE, by hitting an intraday high of Rs 1687.45 apiece. Currently, it has a market cap of Rs 3,805 crore. A month ago, the stock price was about Rs 1,302.50 apiece, and since then it has rallied by at least 29.6%.

As per the shareholding pattern, Rekha Jhunjhunwala holds about 11,02,852 equity shares or 4.80% in Raghav Productivity as of September 30, 2024.

At Rs 1,302.50 apiece, Rekha's shareholding was valued at about Rs 143.65 crore on October 28, 2024. Now, at the November 27th intraday high, the shareholding is worth Rs 186.10 crore. That being said, in a month, Rekha's portfolio in Raghav Productivity soared by Rs 42.5 crore.

Rekha is likely to gain more as her shareholding will receive 1 free share of existing shares.

Raghav Productivity Enhancers Bonus Issue:

The company has revised its to ascertain the eligibility of shareholders for the issue of Bonus shares in the ratio 1:1 [i.e. 1(One) Bonus Equity share of Rs. 10/- each for every 1(One) existing fully paid up equity shares of Rs. 10/- each]. The new record date is November 29.

Hence, Raghav's stock will turn ex-bonus on November 29. Only those investors will be eligible who are holding Raghav shares by the end of the record date.

Example: In the case of Rekha Jhunjhuwala, she will receive 1 free share on every 1 share she holds in Raghav. This is also if she is an eligible shareholder by the end of the record date.

Raghav has announced that for issue of Bonus Shares and the deemed date of allotment for the same will be on Saturday, 30th November 2024 with an effective date of listing on 2nd December 2024

Further, 22952600 (Two crore twenty-nine lakhs fifty-two thousand six hundred) Bonus Shares will be credited in the Depository system on 2nd December 2024 by noon and also ensure that the same will be available for trading at the beginning of the day of 3rd December 2024

This will be Raghav's third bonus issue overall, but his second in less than 14 months. The last bonus issue was of 1:1 ratio in August 2023. The company's first bonus issue stood at a 2:5 ratio which took place in May 2018.

Since June 2021, the company has delivered up to 5 dividends, as per Trendlyne data. In the last 12 months, the stock has distributed up to Rs 0.90 dividend per share. It has a dividend yield of 0.07%.

The company has not carried any stock split yet.

About Raghav Productivity Enhancers:

Raghav Productivity Enhancers is the world's largest manufacturer of Silica Ramming Mass. Silica ramming mass is a high-purity refractory material used to line induction furnaces, shielding them from extreme temperatures and chemical reactions during metal melting, while offering strong thermal and mechanical durability.

In technical collaboration with JWK AB Sweden, the company has been supplying our superior products to both big capacity plants across India and to over 35+ countries worldwide.

Over the years, the company has established itself as the largest exporter and the only pan-India supplier of ramming mass amongst an unorganised and fragmented market. The company supply its products across India and the world, with many distinguished steel manufacturers and foundries being its customers.