1:1 Bonus Shares By Auto Stock: September 25 Record Date; Place Bet To Get Credit?

Founded in March 2019, NDR Auto Components Limited (NACL) is a member of the Rohit Relan Group. NDR Auto Components Limited's shares are traded on the Bombay Stock Exchange in addition to the National Stock Exchange. One of the top producers of seat frames and seat trims is NACL. An Indian business named NDR Auto Components Limited (NACL) produces and assembles automobile parts. Four production facilities are owned by NACL: two are located in Gurugram, one in the Ramanagara District, and one in Surendranagar, Gujarat.

NDR Auto Components Bonus Issue

"We inadvertently mentioned the date of record date as October 25, 2024, instead of September 25, 2024, at one place in our earlier intimation of record date filed today. So, with reference to the captioned subject and our earlier intimation dated August 08, 2024, and pursuant to the provisions of Regulation 42 of the SEBI Listing Regulations, we wish to inform that the Company has fixed the Wednesday, September 25, 2024, as the Record Date for the following purpose, subject to the statutory/regulatory approvals as may be required," said NDR Auto Components in a stock exchange filing.

1,18,92,652 equity shares at face value of Rs. 10/- each is the total number of securities proposed to be issued or the total amount for which the securities will be issued as a part of bonus shares and they will be issued out of free reserves of the company available as at 31st March 2024. The free reserves of Rs. 11,89,26,520/- are required for implementing the bonus issue while Rs. 6,276.30 Lakhs is available in free reserves account as of 31st March 2024.

October 7, 2024 is the estimated date by which such bonus shares would be credited/dispatched, as per a stock exchange filing.

NDR Auto Components Financials

In the quarter that ended in June 2024, the firm had net sales of Rs. 171.31 crore, up 34.22% from Rs. 127.63 crore in the quarter that ended in June 2023. Its net profit climbed 39.91% from Rs. 8.24 crore in Q1FY24 to Rs. 11.53 crore in Q1FY25. While Ndr Auto Compon EPS dropped to Rs. 9.70 in June 2024 quarter from Rs. 13.86 in June 2023 quarter, EBITDA increased to Rs. 17.49 crore in June 2024, up 36.75% from Rs. 12.79 crore in June 2023.

NDR Auto Components Share Price Target

"NDR Auto stock price is bearish on the Daily charts with strong resistance at 17.60 A Daily close below support of 1651 could lead to a target of 1500 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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