3:1 Bonus Issue: 64-Yrs Old Engineering Co To Offer 3 Free Shares, Shares Gain 31% In 1-Week

Bajaj Steel Industries Ltd shares today witnessed decline of 1.20% despite recommending bonus shares in the proportion of 3:1 implying shareholders will be eligible to receive 3 bonus shares for every 1 share held as on the record date. Current market price of Bajaj Steel Industries shares on BSE is Rs 3321.50 per shares. Bajaj Steel Industries shares offered multibagger returns to shareholders as shares gained 171% in last 6-months. The company's market capitalisation stood at Rs 1727.18 crore. Check details below:

Bajaj Steel Industries Recommends Bonus Shares: As per the BSE filing of Bajaj Steel Industries dated October 3, 2024, "issuance of Bonus Shares in the ratio of 3:1 i.e. three (3) Equity Shares of face value of Rs.5/- each for every One (1) existing Equity Share of face value of Rs.5/- each held by the Shareholders of the Company as on Record Date."

The company also announced appointment of Shri Lav Bajaj as an Additional Executive Director of the Company for the period of 5 years w.e.f. October 03, 2024 and re-appointment of Dr. Mahendra Kumar Sharma as a Whole Time Director & CEO of the Company for the further period of 5 years w.e.f. November 12, 2024 and amendment to the terms of his appointment, added the regulatory filing.

Bajaj Steel Industries Shares Performance: The 52-week high price of Bajaj Steel Industries Ltd shares on BSE is Rs 3499.75 per share (as on 03/10/2024) and 52-week low price is Rs 1004.05 per share (as on 26/10/2023), respectively. Bajaj Steel Industries shares offered attractive returns of 63% in last 1-month, gained 181% year-to-date, and surged 201% in last 1-year only.

About: Bajaj Steel Industries Limited (BSIL), established in 1961, is a leading global engineering company with a world class infrastructure and manufacturing facilities. Bajaj Steel is engaged in manufacturing of cotton ginning & pressing machinery, cotton seed delinting & decorticating machinery, pre-engineered steel buildings & industrial civil buildings, electrical panels and electrical systems (LT & HT), speciality conveyors, heavy engineering equipment, hydraulic cylinders, power packs and manifolds, power transmission products, industrial fans & impellers, fire-fighting systems, steel safety doors and fire resistance steel doors, machined components as per drawings, industrial fabrications, according to its LinkedIn page.

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