Smallcap power company, Power Mech Tech share price will turn ex-bonus on October 8, and accordingly the stock price will be in focus. The company is set to reward investors with 1:1 bonus issue, which comes after its Rs 2 dividend per share payout in September. Power Mech is a multibagger in the long term basis. At 1:1 ratio, the stock price of the company will be adjusted.
Power Mech Projects Share Price:
The stock price closed at Rs 6,247.70 apiece, marginally on October 7, ahead of its ex-bonus date. The company's market cap is around Rs 9,876.46 crore.
The stock's 52-week high and low is at Rs 7,450 apiece and Rs 3,342.75 apiece respectively. YTD, the stock is up by 39.5%. In a year, the stock gained by nearly 51%. But in 5 years span, Power Mech shares have skyrocketed by a whopping 820.06%. The stock price was below Rs 680 levels on October 11, 2019.
The latest stock performance also comes after Power Mech incorporated a new subsidiary, "Power Mech Arabia Contracting Company" in Saudi Arabia.
Power Mech Arabia Contracting Company will engage in the repair and maintenance of equipment for Power plants, oil and gas facilities, and desalination plants. Additionally, it will participate in the development, repair, and maintenance of water distribution networks, as well as the repair and maintenance of power stations and transformers. The Company will also be involved in the establishment of refineries, power plants, and petrochemical plants.
Power Mech Projects Bonus Issue:
Power Mech revised its bonus issue record date to October 8. This will also be the ex-bonus date of the stock. On this day, the company will determine the Members entitled to the allotment of bonus equity shares in the ratio of 1:1.
The bonus issue ratio of 1:1 means that Power Mech will allot 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.
This is the first ever bonus issue by Power Mech.
Last month, Power Mech turned ex-dividend on September 20, 2024, for a final dividend of Rs 2 per share or 20% for the financial year 2023-24.
About Power Mech Projects:
Power Mech Projects Limited is one of the leading infrastructure-construction Companies based in Hyderabad, India with a global presence and is highly credited with providing a spectrum of services in the power and infrastructure sectors. It was established in the year 1999, and stands remarkably taller amongst contemporary players in the field with 15,000 direct and 25,000 indirect workforce and a huge fleet of cranes and machines, it is capable of handling and executing over 4,00,000 MT annually while operating up to 55 sites simultaneously.
The company over the two decades of existence has undertaken projects of all types, sizes and under extreme environments in India and abroad which include Ultra Mega Power Projects, Super Critical Thermal Power Projects, Sub Critical Power Projects, Heat Recovery Steam Generators, Waste Heat Recovery Steam Generators, Circulating Fluidized Bed Combustion Steam Generators, Gas Turbine Generators, Hydro Electric Projects, Operation & Maintenance of running plants and entire civil works for power plants.
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