BSE Small Cap Stock Up 5% After Bonus Issue Announcement For 2nd Time In A Year; Do You Own?

Bonus Issue Alert: Shares of Sandur Manganese & Iron Ore Ltd surged around 5% after the metal sector company announced gave update on bonus issue for the second time in a year. The company's board of directors will consider a bonus issue and approve the June quarter results this week.

Sandur Manganese & Iron Ore shares closed 4.29% higher at Rs 468.15 per share on BSE on Tuesday, 5 August, with a market capitalisation of Rs 7,585.67 crore. The stock had touched an intraday low of Rs 443.50 per share. The BSE Small Cap stock witnessed significant buying by the end of the trading session and touched an intraday high mark of Rs 476.45 per share.

The recent surge in Sandur Manganese's stock price reflects investor optimism about the company's future prospects. The potential bonus issue could further enhance shareholder value and attract more investors to the stock.

Bonus Issue Alert: Sandur Manganese & Iron Ore Bonus Issue

The manufacturer of ferrosilicon, ferro manganese, pig iron and silica manganese, on Tuesday, stated that its board of directors will consider bonus issue announcement at the meeting scheduled to take place on Friday.

"Pursuant to the provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, this is to inform Stock Exchanges that meeting of the Board of Directors of the Company is scheduled to be held at 12.30 P.M. on Friday, 8 August 2025 to consider, inter-alia proposal for issue of Bonus Shares to the equity shareholders of the Company," noted the company in its press release on Tuesday.

Additionally, the company's board will also announce quarterly results for the June quarter of financial year 2025-26 and also consider to increase the authorised share capital.

This is for the second time when the metal company has announced bonus issue for its shareholders. The record date for the potential bonus issue is yet to be determined and is likely to be out after release of final details related to the corporate action.

In February 2024, the company had announced a bonus issue with a ratio of 5:1. Which means that the shareholders received five additional shares for each share they owned on the record date.

Besides this bonus, the company also distributed a final dividend of ₹1 per share. This followed dividends of ₹5 per share in both 2022 and 2023. The company had reported a net profit of Rs 139.30 crore in the March quarter of financial year 2024-25. Additionally, it has earned a revenue of Rs 594.95 crore during the quarter and the earnings per share stood at Rs 8.60.