1:2 Bonus Issue: Small Cap Electric Stock Fixes Record Date, Offers 2759% Return In 2-Yrs

Small cap stock operating in electric sector, RMC Switchgears fixed October 13, 2023 as the record date for bonus share in the ratio of 1:2 implying issuance of 1 new equity share for every 2 shares held as on record date. Current market price of RMC Switchgears share is Rs 734.95 per share with intraday fall of 1.74%. RMC Switchgears shares offered 5149% return in last 3-years and 2759% return in last 2-years. Check details below:

RMC Switchgears Fixes Record Date For 1:2 Bonus Issue: As per the BSE filing of RMC Switchgears dated October 3, 2023, "This is to inform you that pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations. 2015. the Company has fixed Friday, 13" October, 2023 as the "RECORD DATE". for the purpose of ascertaining the eligibility of shareholders entitled for issue of Bonus Equity Shares of the Company in the ratio of 1:2. i. e. 1 (One) New Equity Share of Rs. 10/- each for every 2 (Two) Existing Equity Shares of Rs. 10/- each. which was recommended by the Board of Directors of the Company vide its meeting held on Saturday, 2nd September. 2023 and for which approval of the shareholders have already been obtained at Annual General Meeting of the Company held on Saturday. 30" September, 2023."

Earlier last month on September 4, RMC Switchgears announced bonus issue.

RMC Switchgears Stock Outlook & Return Over Years: Current market price of RMC Switchgears share is Rs 734.95 per share with intraday fall of 1.74% on BSE. Its 52-week high price is Rs 879.95 per share and 52-week low price is Rs 121.30 per share, respectively. RMC Switchgears has a market capitalisation of Rs 505.07 crore. RMC Switchgears shares witnessed a surge of 168% in last 6-months, gained 505% in last 1-year, soared 2759% in last 2-years, and offered a rally of 5149% in last 3-years.

RMC Switchgears Received LoA from Maharashtra Govt: The company received LoA from Maharashtra government on September 16 and declared in its regulatory filing, "The Company in Joint Venture with Continental Petroleums Limited, has received order for 'Supply of Plant and Installation including Civil Contract' covering inter-alia supply of plant, installation and Civil on FOR (Final place of destination [Satara Circle]}) basis inter-alia including' design, engineering, manufacture, testing, transportation, insurance etc. and other services incidental thereto, for value of Rs. 11,283.45 lacs (excluding GST) required for the complete execution at Satara Circle/s under Baramati Zone of MSEDCL, Maharashtra State, under RDSS."

RMC Switchgears About: RMC Switchgears seeks to protect the electric ecosystem of India. RMC Switchgears first began its work under the name of RFH Metal Castings Pvt Ltd In 1994. Ever since, the company expanded exponentially, gone under a major rebranding, delivered exceptional products and impacted the electrical industry positively. With equipment made in plastics, fibre reinforced plastics and sheet metals, RMC Switchgears also offers end-to-end solutions including Engineering, Procurement and Construction, according to its official website.

Disclaimer: The stock just highlights the bonus share 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.

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Category: PF Investment