Corp Action: Small Cap Stock Recommends 1:1 Bonus Issue; Shares Gain 65% In 90-Days

Small cap company operating in diversified sector, Grauer & Weil (India) Ltd shares today hit fresh 52-week high as Board of Directors recommended bonus share in the proportion of 1:1. It implies shareholders will get one bonus share for every one share held as on the record date. Grauer & Weil shares gave return of 65% in last 3-months and zoomed 263% in last 2-years. Check details below:

Grauer & Weil Recommends 1:1 Bonus Share: As per the BSE filing of the company dated Feb 26, 2024, "the Board of Directors of the Company vide its meeting held on 26" February, 2024 approved the issue and allotment of Bonus Shares in the proportion of 1:1 [One (1) new equity share of Re. 1/- (One) each for every One (1) existing equity share(s) of Re. 1/- (One) each held as on the Record Date] i.e. 22,67,05,750 (Twenty two Crore Sixty Seven Lacs Five thousand Seven Hundred and fifty) equity shares of Re. 1/- (One) each as fully paid up bonus shares."

Grauer & Weil Shares Performance & Return: Grauer & Weil stock has been hitting back to back upper circuits for the last few days and witnessing spurt in volume too. Grauer & Weil shares hit upper circuits on February 22, February 23, and February 26, 2024. The company also issued clarification on spurt in volume. Grauer & Weil has a market capitalisation of Rs 4523.91 crore. Grauer & Weil shares jumped 46% year-to-date, gained 41% in last 6-months, and offered return of 263% in last 2-years. In last 3-years, Grauer & Weil stock zoomed 364%.

Grauer Financials: Grauer & Weil for the quarter ended December 31, 2023 announced a surge of 24.13% in its net profit to Rs 42.75 crore as against Rs 34.44 crore in the similar quarter of last year. Its net sales for the December 2023 quarter declared at Rs 285.03 crore, up 13.61% from Rs 250.89 crore in December 2022. The company's EBITDA surged 22.19% to Rs 63.92 crore, up 22.19% as against Rs 52.31 crore in December 2022. EPS of the company surged to Rs 1.89 for December 2023 quarter from Rs 1.52 in December 2022.

About: Grauer & Weil (India) Ltd. or Growel is a formidable player in the field of Electroplating & Specialty Chemicals and Engineering equipment. It has over 66 years of experience as a manufacturer of Chain Oil, Coolant Oil, Wire Drawing Oil, Gear Oil, Hydraulic Oil and many other products. Growel stepped into real estate development in 2005 and has developed a 475000 square feet Shopping Centre in the Western Suburbs of Mumbai. In 2007, it started manufacturing Protective Coatings & Industrial Lubricants and has become a One-Stop Solution Provider for the protection of various types of substrates across various industrial segments, according to its official website.

Disclaimer: The stock highlights the bonus issue 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.