Auto Stock Gets NSE Nod For Listing of 11892652 Bonus Shares; BUY/SELL?

Complete seating systems for the four-wheeler, two-wheeler, and surface transport markets are produced in-house by NDR Auto Components. One of the companies of the Rohit Relan Group is NDR Auto Components Limited (NACL). NDR Auto Components Limited's shares are traded on the Bombay Stock Exchange in addition to the National Stock Exchange.

NDR Auto Components Bonus Shares Listing

"The Company has received approval for listing of 11892652 Bonus Equity Shares from National Stock Exchange of India Limited on October 01, 2024," said the company in a stock exchange filing.

Closure of Trading Window of NDR Auto Components

"The trading window for dealing in shares of the Company will remain closed for all the designated and connected persons to whom the code is applicable, with effect from October 1, 2024 till 48 hours after the declaration of unaudited Financial Results of the Company for the quarter and half year ending on September 30, 2024," said NDR Auto Components in a regulatory filing.

NDR Auto Components Bonus Shares Allotment

The Securities Allotment Committee in its meeting held on September 27, 2024 allotted 1,18,92,652 bonus equity shares to those eligible shareholders of the company whose names appeared in the Register of Shareholders of the company/List of Beneficial owners maintained by the company as on the record date i.e. 25.09.2024, as per a stock exchange filing.

Accordingly, the paid-up equity share capital of the company increased from Rs. 11,89,26,520/- divided into 1,18,92,652 equity shares of Rs. 10/- each to Rs. 23,78,53,040/- divided into 2,37,85,304 equity shares of Rs. 10/- each.

The company had declared bonus shares in a 1:1 ratio and the free reserves and/ or share premium required for implementing the bonus issue was Rs. 11,89,26,520/- while the free reserves and/ or share premium available for capitalization and the date as on which such balance is available is Rs. 6,276.30 Lakhs as on March 31, 2024.
The estimated date by which such bonus shares would be credited/dispatched is October 7, 2024, said NDR Auto Components.

"The Bonus Shares shall be credited to the eligible Shareholders of the Company in their demat account only. In case of failure in credit of Shares in demat account of any Shareholder(s) due to any reason, then such Bonus Shares will be credited to the Unclaimed Suspense Account as prescribed by Law," informed the company to stock exchanges.

NDR Auto Components Share Price Target

"NDR Auto Components stock price is bearish on the Daily charts with strong resistance at 997.5. A Daily close below support of 875 could lead to a target of 777 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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