Three stocks will be buzzing during the trading week from July 15th to 19th as they will turn ex-split and ex-bonus. The three stocks are multibagger smallcaps, and of two of them is going to split in a ratio of 1:2 each. Belonging to diverse segments, these stocks are MM Forgings, KPI Green Energy and Elecon Engineering.
Bonus Issue This Week:
MM Forgings Bonus Issue:
Share Price: Last week, on Friday, the stock ended at Rs 1312.65 apiece, down by 1.95% with a market cap of Rs 3,168.84 crore. The stock witnessed profit booking after touching a new 52-week high of Rs 1,364.95 apiece on BSE. At the same time, its 52-week low is at Rs 831 apiece. YTD, the stock zoomed by 34.5% on BSE, while in a year, the gains are over 41%. In 5 years, the stock is up by a whopping 194%.
Fundamentals: The stock's earnings per share is at Rs 59.33, while its price-to-equity ratio is at 22.12x and its return on equity (RoE) is at 17.55%.
Bonus Issue: MM Forgings has announced a 1:1 bonus issue. The company fixed Tuesday, 16 July 2024 as the record date for ascertaining the eligibility of Members who shall be entitled to allotment of bonus equity shares in the ratio of 1:1 i.e., 1 (One) Equity Share of ₹10/- each for every 1 (One) existing Equity Share of ₹10/- each.
Bonus Issue Allotment: The company announced that it will be holding a meeting on Wednesday, July 17, 2024, to approve the allotment of Bonus shares and any other matter as may be specified in the agenda.
About MM Forgings: MMF is a leading manufacturer of closed die hot forgings. All its forging lines are equipped with state-of-the-art billet temperature control mechanisms. MMF boasts of a wide variety of production lines to cater to satisfy the variety of customer needs.
Stock Splits This Week:
Share Price: The stock ended at Rs 1850.25 apiece with a market cap of Rs 11,153.79 crore on Friday last week. The stock's 52-week high and low are at Rs 2,109.25 apiece and Rs 496.92 apiece respectively. YTD, the stock has gained by over 94% on BSE, but in a year, KPI rallied by over 229%.
Fundamentals: Data from BSE showed that KPI's earnings per share is at Rs 17.20 as of July 12, 2024. The PE ratio is high at 107.54x and its RoE is at 13.86%.
Stock Split: KPI will split for the first time in the ratio of 1:2. The company has fixed Thursday, July 18, 2024 as the 'Record Date' for determining the eligibility of Shareholders for subdivision/split of equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up into 2 (Two) equity shares having face value of Rs. 5/- (Rupees Five only) each fully paid-up.
About KPI Green Energy: KPI Green Energy Limited (Formerly known as K.P.I. Global Infrastructure Limited), is the Renewable vertical of KP Group and a prominent Gujarat-based Renewable power generating company. Incorporated in February 2008, focused on providing Renewable power through different Business verticals. The Company develops, builds, owns, operates and maintains Renewable power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPP) under the brand name 'Solarism'.
Elecon Engineering:
Share Price: This smallcap stock ended at Rs 1287.15 apiece, with a market cap of Rs 14,441.82 crore, The stock's 52-week high and low are at Rs 1,414.95 apiece and Rs 693.35 apiece respectively. YTD, the stock climbed by nearly 37% on BSE. In a year, the stock advanced by 78%, and in 5 years, the upside is a whopping 2,912.21%.
Fundamentals: The company's earnings per share is at Rs 32.45 as of July 12, 2024. While its PE ratio is at 39.67x and RoE is at 27.02%.
Stock Split: Elecon Engineering is set to split in the ratio of 1:2. The company fixed Friday, 19th July 2024 as the "Record Date" for determining entitlement of Equity Shareholders for sub-division/ split of existing Equity Shares of the Company, such that 1 (one) equity share having face value of Rs. 2/ - (Rupees two only) each, fully paid, will be sub-divided into 2 (two) equity shares having face value of Re. 1/- (Rupee one only) each, fully paid up.
About Elecon Engineering: Elecon Engineering, a trailblazer since 1951 and was founded by the Late Shri Ishwarbhai B. Patel. Elecon's journey began in manufacturing conveyor systems for the mining industry and rapidly evolved into a key player in Material Handling equipment-related EPC projects across India.
Currently, Elecon stands tall as Asia's largest Industrial Gearbox Manufacturer from India, with a global footprint across Asia, the Middle East, the USA, the UK and other parts of Europe and also in Africa.
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