1:7 Bonus Share: Multibagger Metal Stock Fixes Nov 8 As Record Date, Shares Zoom 8%

Small cap stock operating in metal & ferrous sector, D.P. Wires Ltd on Friday fixed November 8, 2023 as the record date for bonus share in the proportion of 1:7 implying shareholders will receive 1 bonus share for every 7 shares held on the record date. Last trading price of D.P. Wires share on BSE is Rs 639.90 per share with intraday gain of 7.82%. Check details below:

D.P. Wires To Issue Bonus Share Next Month, Record Date Fixed: According to the BSE filing of the company dated today, "This is with reference to our letter dated Friday, September 29, 2023 in respect of recommendation made by the Board of Directors of the Company for issue of bonus shares to the shareholders in the ratio of 1 (one) bonus equity share against 7 (seven) existing equity shares held, subject to the approval of the shareholders of the Company. Further, the shareholders of the Company have approved aforesaid issue of bonus shares by passing an Ordinary Resolution in the extra-ordinary general meeting held on Thursday, 26 October, 2023. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Wednesday, November 8, 2023 as Record Date for the purpose ascertaining the eligibility of shareholders entitled for issuance of bonus shares by the Company."

D.P. Wires Stock Performance & Return: Last trading price of D.P. Wires stock on BSE is Rs 639.90 per share. Its 52-week high price is Rs 722.00 per share and 52-week low price is Rs 582.20 per share, respectively. The company's market capitalisation is Rs 868.22 crore. In last 1-month, D.P. Wires stock fell 1.61%, surged 43% in last 3-months, soared 42% in last 1-year, and gained 988% in last 3-years.

DP Wires Financials: The company for the quarter ended June 30, 2023 announced its net sales at Rs 265.74 crore, up 32.59% as against Rs 200.42 crore in June 2022. It declared its quarterly net profit at Rs 11.11 crore in June 2023, up 45.97% as against Rs 7.61 crore in June 2022. The company's EBITDA stood at Rs 17.14 crore in June 2023, up 49.56% as against 11.46 crore in June 2022.

DP Wires About: D.P. Wires is a leading Steel Wire Manufacturer in India. Its products include HT Stands (LRPC Wire), Spring Steel Wire, Induction Tempered Wire, Geomembrane Sheets. Established in the year 1996, DP wires aim to provide quality products to its customers at cost-effective rates, according to its LinkedIn page.

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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 any losses. Please consult a professional advisor.