Rs 2/Sh Dividend, 1:1 Bonus Issue: Multibagger Power Mech Revises Record Date

Small cap infrastructure-construction company Power Mech Projects Ltd today revised the record date for 1:1 bonus share. The new record date is October 8, 2024. Meanwhile, the record date for Rs 2/- per equity share dividend remains the same (September 28, 2024) the company fixed earlier. Current market price of Power Mech Projects shares on BSE is Rs 6761.50 per share. Power Mech Projects shares gained over 19% in last 2-weeks and offered 719% return in last 3-years. The company's market capitalisation stood at Rs 10,688.68 crore. This is the first time Power Mech Projects recommended bonus share for its shareholders. The company never announced any stock split. Check details below:

Power Mech Projects Issues New Record Date For Bonus Share: As per the exchange filing of Power Mech Projects issued as on August 29, 2024, "we wish to inform you that the Company has revised the Record Date to Tuesday, October 8, 2024. This date has been fixed for determining the Members entitled to the allotment of bonus equity shares in the ratio of 1:1. Accordingly, 1 (One) new fully paid-up equity share of Rs. 10/- each will be issued for every 1 (One) fully paid-up equity share of Rs. 10/- each held by the Members." The company on August 22 recommended 1:1 bonus share in order to commemorate 25 years of existence.

Power Mech Projects Dividend: Power Mech declared Saturday, 28th September 2024 as Record date to determine the eligibility of shareholders/Beneficial Owners who are entitled for receipt of Final Dividend. Earlier, Power Mech recommended a final dividend of Rs 2/- per equity share of the face value of Rs 10.00 each.

Power Mech Projects Shares Performance & Returns: Power Mech Projects shares gained 40% in last 3-months, rose 67% in last 1-year, jumped 373% in previous 2-years, and offered stunning returns of 871% in 5-years. The 52-week high price of Power Mech Projects on BSE is Rs 7,450.00 apiece (as on 23/08/2024) and 52-week low price is Rs 3342.75 apiece (as on 02/11/2023), respectively.

Shareholding: FII/FPI have increased holdings from 4.98% to 5.24% in June 2024 quarter. Number of FII/FPI investors increased from 117 to 118 in June 2024 quarter. Mutual Funds have increased holdings from 16.51% to 18.68% in June 2024 quarter. Institutional Investors have increased holdings from 24.42% to 26.89% in June 2024 quarter.

How To Be Eligible For Power Mech Dividend, Bonus Share? Record date plays significant role in announcing eligibility of shareholders for dividend and bonus share. Shareholders whose name appear in company's shareholders record as on the record date will become eligible to receive dividend income and bonus share. Record date is the specific day on which a company confirms the list of shareholders eligible for its dividend distribution and bonus shares. Power Mech fixed September 28, 2024 as the record date for dividend and the new record date for bonus share is October 8, 2024.

About: Power Mech Projects Limited, is one among the leading infrastructure-construction Companies based in Hyderabad, India with global presence and highly credited in providing spectrum of services in power and infrastructure sectors. It was established in the year 1999 by an enthusiastic engineering entrepreneur S. Kishore Babu with chosen motto of providing service with high quality, safety and time line, the three virtues still holding the Company in high esteem.

Disclaimer:

The stock highlights the bonus share, dividend, 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.