1:1 Bonus Issue, 1:2 Stock Split: Metal Stock Issues Update On Stock Split

Small cap metal stock, Rudra Global issued an update pertaining to stock split in the ratio of 1:2. It informed that members of the company accorded their consent for splitting/sub-division of equity share having face value of Rs 10/- each fully paid up into equity shares having face value of Rs 5/- each. Rudra Global shares offered return of 30% in last 3-months, gained 44% in last 6-months, and soared 281% in last 2-years. Check details below:

Board Of Rudra Global Gives Consent To Stock Split: As per the BSE filing of Rudra Global dated October 1, 2023, "With reference to the subject cited above and Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we would like to inform that, Members of the company accorded their consent for Splitting/ sub-division of Equity Share having face value of Rs. 10 /- each fully paid up into Equity Shares having face value of Rs. 5/- each."

Earlier, board of directors of the company gave their approval to stock split on September 5 in the ratio of 1:2. As per its exchange filing on September 5, 2023, "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."

Rudra Global Recommended Bonus Issue: The board also recommended bonus issue in the ratio of 1:1. The regulatory filing said, "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]."

Rudra Global Stock Outlook & Return: Last trading price of Rudra Global stock is Rs 108.00 per share. The stock hit back-to-back lower circuit on September 25, September 26, and September 27, and hit upper circuit on September 28, 2023. Rudra Global shares offered a rally of 3.85% in last 1-year, gave return of 281% in last 2-years, and rallied 3.85% in last 3-years. In last 5-years, Rudra Global shares fell 36%.

Rudra Global Financials: 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.

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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.