3:1 Bonus Share: Engineering Co To Offer 3 Free Shares Post Diwali, Shares Up 155% In 2024

Bajaj Steel Industries Ltd shares today witnessed marginal surge of 0.76% and trading at Rs 2950.00 per share on BSE. Bajaj Steel Industries Ltd shares delivered multibagger returns to investors in last 6-months as the stock zoomed 131% and now the company is all set to offer bonus shares after Diwali. Bajaj Steel Industries Ltd today fixed November 12 as the record date. The company has a market capitalisation of Rs 1534.00 crore. Its ROE is 24.38 and PE is 21.34. The company on October 3 recommended 3:1 bonus issue. Check details below:

Bajaj Steel Industries Ltd Sets Record Date For Bonus Issue:

As per the regulatory filing of Bajaj Steel Industries Ltd dated October 29, 2024, "In reference to our previous intimation dated October 03, 2024 and pursuant to Regulation 42 of the SEBI Listing Regulations, 2015, and on the receipt of shareholder's approval at the EGM held on October 28, 2024, this is to inform you that the Bonus Shares Allotment Committee of the Company has fixed the date of Tuesday, November 12, 2024 as the "Record Date" to determine the eligibility of shareholders for the issuance of Bonus Shares in the ratio 3:1 i.e. three (3) new equity shares for every one (1) share held by the shareholders."

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 1018.00 per share (as on 01/11/2023), respectively. Bajaj Steel Industries shares delivered attractive returns of 131% in last 6-months, gained 155% in 2024, offered gain of 178% in last 1-year, and surged 243% in last 2-years. In last 5-years, Bajaj Steel Industries Ltd stock rallied 2567%.

How To Be Eligible For Bajaj Steel Industries Bonus Issue?

The firm decides through the record date the eligibility of shareholders for receiving bonus share. Companies that decide to distribute bonus shares fix a record date to identify how many current shareholders there are. The firms' bookkeepers cross check the records on the record date to recognize stockholders. When a firm announced the bonus share issue, it also declares an ex-date. The ex-date is the last day to buy the company's shares to become eligible for the bonus issue. If you join the firm post the ex-date, you will not be eligible for bonus shares. T+2 rolling settlement has been used in India that implies the ex-date is two days prior to the record date.

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.

Disclaimer:

The stock highlights the bonus share and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.