1:1 Bonus Share Recommended: Agro Co Declares 22.88% Jump In Net, Shares Up 101% In 2-Yrs

Agro Processing sector company, Gujarat Ambuja Exports Ltd shares witnessed marginal decline of 0.34% intraday today as its Board of Directors recommended bonus share in the proportion of 1:1 implying shareholders will be eligible to receive one bonus share for every one share held as on the record date. Gujarat Ambuja Exports shares rallied 101% in last 2-years.

Gujarat Ambuja Exports also declared its Q3 results today and announced a jump of 22.88% in its net profit to Rs 100.66 crore for the quarter ended December 31, 2023 as compared to Rs 81.92 crore declared in the corresponding quarter of last year. Its sales surged 15.22% to Rs 1301.78 crore for the quarter under review as against Rs 1129.86 crore for the similar quarter of last year.

Gujarat Ambuja Recommends Bonus Share: As per the BSE filing of the company dated February 2, 2024, "Recommended issue of bonus equity shares in the proportion of 1:1 i.e. 1 (One) new fully paid-up bonus equity share of Rs. 1/- (Rupee One only) each for every 1 (One) existing fully paid-up equity share of Rs. 1/- (Rupee one only) each held as on the record date. The bonus issue of equity shares will be subject to approval by the Members of the Company which is being obtained through Postal Ballot, and any other applicable statutory and regulatory approvals. The bonus equity shares so issued shall be issued in dematerialized form only and shall rank pari-passu in all respects with the existing fully paid-up equity shares of the Company."

Gujarat Ambuja Stock Performance & Return: Last trading price of Gujarat Ambuja shares on BSE is Rs 397.75 per share. The 52-week high price of Gujarat Ambuja shares on BSE is Rs 420.75 apiece and 52-week low price is Rs 224.20 apiece, respectively. The company has a market capitalisation of Rs 9,121.81 crore. Gujarat Ambuja shares gained 22% in last 3-months, soared 54% in last 6-months, rallied 68% in last 1-year, and offered return of 182% in last 3-years. In last 5-years, the scrip soared 273%.

Gujarat Ambuja About: Gujarat Ambuja Exports Limited (GAEL) is principally involved in agro-processing and has focus on exports and indigenous market, catering to food, pharmaceutical & feed industry, competing in the domestic and global market, according to its official website.

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