1:1 Bonus Issue, 1:2 Stock Split: Multibagger Metal Stock Hits Lower Circuit For 4th Day

Small cap stock operating in metals & ferrous sector, Rudra Global Infra Products approved 1:1 bonus share and 1:2 stock split on September 5, 2023. Rudra Global shares have witnessing decline for last four-days and hit 2% lower circuit for fourth consecutive day. Last trading price of Rudra Global stock is Rs 120.55 per share. In last 1-year, Rudra Global shares offered 31% return and 306% return in last 2-years. Check details below:

Rudra Global Approves Bonus Issue & Stock Split: According to the BSE filing of Rudra Global Infra dated September 5, 2023 given below:

Bonus Issue: "With reference to the subject cited above, this is to inform you that Board of Directors of the Company in their meeting held on today (i.e. September 05, 2023) has considered and approved the Issue of Equity Shares by the way of Bonus Issue in the ratio of 1:1 [i.e. 1 (One) fully paid up equity share for every 1 (One) equity share]."

Stock Split: "With reference to the subject cited above, this is to inform you that Board of Directors of the Company in their meeting held on today (i.e. September 05, 2023) has considered and approved Proposal of Split/sub- division of Company's 1 (one) equity shares of face value of Rs. 10/- each into 2 (two) equity shares of face value of Rs. 5/-each and subsequent alteration to the Memorandum of Association of the Company."

Earlier, Rudra Global held a meeting on August 26 and informed shareholders about its decision to consider bonus issue and stock split.

Rudra Global Infra Stock Outlook & Return: Current market price of Rudra Global stock is Rs 120.55 apiece with intraday fall of 1.99%. Its 52-week high price is Rs 147.70 per share and 52-week low price is Rs 54.25 per share, respectively. Its market capitalisation is Rs 302.41 crore. In last 3-months, Rudra Global stock offered 41% return, gave 35% return in last 6-months, and rallied 306% in last 2-years. It fell 23% in last 5-years.

Rudra Global Financial Performance In Recent Quarter: The company for the quarter ended June 30, 2023 announced a surge of 1.86% in its consolidated total income to Rs 138.31 crore as against its previous quarter total income of Rs 135.78 crore. The company declared its latest quarter net profit after tax at Rs 4.40 crore.

About: It operates in the steel industry. Rudra Global manufactures TMT bars and Billets and trades in Cement. It is engaged in various businesses like Ship recycling, oxygen plant, Induction Furnace, Re-rolling mill, producing more than 2 Lakh MT per annum of steel, with a group turnover around 1000 crore per annum.

Disclaimer

The stock just highlights the bonus issue, stock split 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 ay losses. Please consult a professional advisor.