For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Indian Metals & Ferro Alloys Board To Consider Bonus; Shares Hit Upper Circuit

|

Indian Metals and Ferro Alloys (IMFA) stated on Tuesday that the company's board of directors will meet on November 25 to discuss a proposal to issue bonus shares. After its board announced it will contemplate a bonus share offering, Indian Metals & Ferro Alloys' stock rose 5%, hitting the upper circuit on November 23.

 

For all Directors, Key Managerial Persons, Nominees, and Persons Concerned covered under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the dealing window for trading in the Company's securities would remain closed. From the 23rd through the 28th of November.

Indian Metals & Ferro Alloys Board To Consider Bonus; Shares Hit Upper Circuit

"We hereby inform you that a meeting of the Board of Directors of the Company will be held on Friday, the 25th November 2021, inter alia, to consider the proposal for issue of bonus shares. Pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for trading in securities of the Company will remain closed for all the Directors, Key Managerial Persons, Designated Persons and the Connected Persons covered under the said regulations from 23rd November 2021 to 28th November 2021 (both the days inclusive) for the purpose of issue of Bonus shares . The record date for the Bonus Issue will be communicated in due course," IMFA said in its statement.

 

Last month, Indian Metals and Ferro Alloys Ltd (IMFA), one of the country's leading ferro alloys producers, reported a more than three-fold increase in its consolidated profit after tax (PAT) to 143.71 crore in the September quarter, owing mostly to greater income.

In the July-September period of the 2020-21 financial year, IMFA reported a profit of Rs 43.73 crore, according to a regulatory filing. The company reported a total income of 657.97 crore for the quarter under review, up from 453.67 crore a year before.

Total expenses were 454.15 crore, down from 396.73 crore in the previous quarter.

In the fiscal year ended March 31, 2021, the company generated a ROE of 13.41 percent, surpassing its five-year average of 9.25 percent. Annual sales growth of 15.97 percent surpassed the company's three-year CAGR of 1.66 percent. Stock returned 162.3 percent over three years, compared to 77.91 percent for the Nifty Smallcap 100.

Story first published: Tuesday, November 23, 2021, 13:24 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X