Bajaj Steel Industries is a small-cap steel stock, that is going to be in focus during the trading week of November 11-15 for two reasons. Firstly, the company's shares will be turning ex-date for massive bonus issue of 3:1 ratio, which will then be followed by its Q2 results announcement for FY25. Bajaj Steel Industries is a multibagger of 2024, gaining by more than 190% YTD.
Bajaj Steel Industries Share Price:
Last week on Friday, this small-cap stock closed at Rs 3445.85 piece, with a market cap of Rs 1,791.84 crore. The stock's price-to-equity ratio is at 25.12x and the return on equity is strong at 24.38%.
The stock's 52-week high and low is at Rs 3,724 apiece and Rs 1,030.60 apiece respectively. YTD, the stock rallied by a whopping 198.60%. The stock was merely at Rs 1,154 apiece level at the start of January 2024.
In a year, the stock advanced by a whopping 209.35%. The stock's 5-year gains is massively by 2,621.20%. Meanwhile, its all-time gains is huge by 20,783.94%.
Bajaj Steel Industries Bonus Issue:
The company has approved the allotment of 15600000 Bonus Equity Shares in the ratio 3:1 i.e. three (3) new equity shares for every one (1) share held by the shareholders having a face value of Rs.5/- each on the record date.
The record date for the 3:1 bonus issue is fixed on November 12. Meaning, only those investors will receive three free shares on existing 1 shares, who are holding Bajaj Steel stocks in their demat account by the end of the record date.
After the allotment of Bonus Equity Shares, the paid-up share capital of the Company stands increased to Rs.10,40,00,000/- divided into 20800000 equity shares of Rs.5/- each.
The Bonus Equity Shares shall rank pari-passu in all respect and carry the same rights as the existing equity shares of the Company including dividends and other corporate benefits, if any, declared by the Company after the said allotment.
Bajaj Steel Industries Q2 Results:
The board of directors of the company are scheduled to be held on Wednesday, November 13, 2024, to inter-alia consider and approve the Unaudited Standalone & Consolidated Financial Results along with the Limited Review Report thereon for the quarter and half year ended September 30, 2024.
About Bajaj Steel Industries:
Bajaj Steel Industries Limited (Bajaj), Nagpur, India, established in 1961, is a public limited company, listed on the Bombay Stock Exchange. The company is having world-class engineering setup in its various plants situated in and around Nagpur.
Bajaj is the only company in the world producing machineries for all cotton ginning technologies i.e Double Roller, Saw Gin & Rotobar, all Pressing technologies i.e. Down Packing, Up Packing & Horizontal Packing, as well as Seed Cleaning, Delinting & Decorticating, apart from general engineering fabrication, machining, intelligent electrical panel manufacturing and various other engineering activities. The company is on high growth path and adding various items to its fold consistently yoy.
The company was established by Late Shri Gangabisenji Bajaj in 1961 and is now run under able guidance of his son Shri Hargovind Bajaj. The group is having wide experience in the fields of engineering, cotton, plastics and various other activities
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