Rs 2/Sh Dividend, 1:1 Bonus Shares Soon: Small Cap Co Bags Rs 850 Cr Order From Vedanta

Small cap company engaged in civil construction Power Mech Projects Ltd shares will soon trade ex-dividend next week and offer 1 free share to shareholders for every 1 share held on October 8, 2024. Last trading price of Power Mech Projects shares on BSE is Rs 6542.40 per share with gain of 1.78% in trade on September 20, 2024. Power Mech Projects Ltd shares slipped 1.18% in last 1-week and soared 260% in last 2-years. The company's market capitalisation stood at Rs 10,342.32 crore.

Recently, the company received massive order worth Rs 850 crore from subsidiary of Vedanta Talwandi Sabo Power Ltd., for the operation and maintenance of a 3x660 MW supercritical thermal power plant at Banawala village, Mansa District, Punjab. This is going to be the maiden bonus issue by the company. Check key details below:

Power Mech Projects Wins New Order From Vedanta's Subsidiary: As per the regulatory filing of Power Mech, the company received order worth Rs 850 crore from Vedanta's subsidiary on September 19, 2024. The order needs to be executed within a span of 5 years effective from November 1, 2024.

Power Mech To Reward Shareholders With 1 Free Share: The company on August 29, 2024 revised the record date for bonus issue. The BSE filing stated, "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 Shares To Trade Ex-Dividend Next Week: Power Mech has already fixed Saturday, 28th September 2024 as Record date to decide 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: The 52-week high price of Power Mech Projects shares 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. Power Mech Projects shares gained 29% in last 3-months, soared 47% in last 6-months, jumped 54% in last 1-year, and rallied 670% in last 3-years. In last 5-years, Power Mech Projects witnessed stunning rally of 793%. Power Mech Projects made its stock market debut way back in 2015 with an issue price of Rs 640 per share.

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.

Check Your Eligibility For Power Mech Dividend, Bonus Share: Record date plays key role in deciding the eligibility of shareholders for dividend and bonus share. Shareholders whose name reflect in company's shareholders record as on the record date will become eligible to get dividend income and bonus share. Record date is the day when a company confirms the list of shareholders eligible for its dividend distribution and bonus shares. Power Mech set September 28, 2024 as the record date for dividend and revised the record date for bonus share to 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.
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