Dividend, Bonus Share Likely On May 29: Forgings Co Set For Twin Rewards, Shares Gain 1358%

Board of Directors of MM Forgings Ltd are set to hold meeting on May 29 to consider financial results, dividend, and bonus shares. Last trading price of MM Forgings share on BSE is Rs 1125.45 per share with intraday fall of 1.12% as on May 24, 2024. The company has a market capitalisation of Rs 2,716.93 crore.

MM Forgings shares offered return of 131% in last 1-year. FII/FPI have increased holdings from 1.93% to 2.28% in March 2024 quarter. Number of FII/FPI investors increased from 35 to 37 in March 2024 quarter. More details below:

MM Forgings To Consider Dividend, Bonus Share, Results: As per the BSE filing of the company dated May 25, 2024, "Further to our earlier letter dated 15 May 2024 and 22 May 2024, with respect to intimation of the date of the Board Meeting scheduled to be held on Wednesday, 29 May 2024, we hereby inform you that the Board of Directors in the said meeting, in addition to consideration and approval of the Audited Standalone and Consolidated financial results of the Company for the quarter and year ended 31 March 2024 and declaration of dividend, would also consider the proposal for issuance of Bonus Shares to the shareholders of the Company, subject to the approval of shareholders."

MM Forgings To Recommend Increase In Authorized Share Capital: As per the regulatory filing, "the Board shall also recommend to the shareholders for their approval for the increase in Authorized Share Capital of the Company and consequent alteration in the Memorandum of Association."

MM Forgings Dividend History: MM Forgings announced 28 dividends since July 11, 2001. In last 1-year, MM Forgings announced an equity dividend amounting to Rs 6.00 per share. At the current share price of Rs 1125.45, MM Forgings offers a dividend yield of 0.53%.

MM Forgings Share Performance & Return: The 52-week high price of MM Forgings share on BSE is Rs 1207.85 per share (as on 07/05/2024) and 52-week low price is Rs 829.80 per share (as on 25/05/2023). MM Forgings shares zoomed 15% year-to-date, gave returns 34% in last 1-year, and rallied 118% in last 5-years. In last 10-years, MM Forgings stock soared 1358%.

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