1:1 Bonus Shares: Record Date In 2 Days On 10th April; Buy The Chemical Stock?

In the chemical industry, Grauer And Weil (India) is a small cap company having a market capitalization of Rs 4,487 Cr on the BSE. The company is a major force in the engineering equipment electroplating and specialty chemical industries. This firm produces and markets coatings for ships, yachts, factories, and offshore installations that are anti-corrosive, anti-fouling, and many more types. Ahead of trading ex-bonus on April 10 at a 1:1 ratio, the stock is trading 3.61% higher on the BSE at Rs 197.90 apiece, close to its 52-week high level of Rs 204.80 apiece.

Grauer And Weil (India) Bonus Shares

"This is to inform you that pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 and subject to the approval of shareholders by way of postal ballot through e-voting process, the Company has fixed Wednesday, 10th 2024 as the "RECORD DATE", for the purpose of ascertaining the eligibility of shareholders entitled for Bonus Equity Shares of the Company in the ratio of 1:1 i.e. 1 (One) new Equity Share of Re. 1/- each for every 1 (One) existing Equity Share of Re. 1/- each held by the Shareholders of the Company as on the record date," said Grauer And Weil (India) in a regulatory filing on 30th April.

Grauer And Weil (India) Financials

On a consolidated basis, the company reported net sales of Rs 285.03 crore in the December 2023 quarter up 13.61% from Rs. 250.89 crore in the December 2022 quarter. Its net profit stood at Rs Rs. 42.75 crore in Q3FY24 up 24.13% from Rs. 34.44 crore in Q3FY23 while its EBITDA reached Rs. 63.92 crore in the reported quarter up 22.19% from Rs. 52.31 crore in the same quarter of FY23.

Grauer And Weil (India) Share Price Target

Grauer & Weil is bearish on the Daily charts with strong resistance at 125. A Daily close below support of 110 could lead to a target of 98.3 in the near term, said AR Ramachandran from Tips2trades.

Disclaimer

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