Midcap Manufacturing Stock Available At Near 52-Week Low, Giving 1:1 Bonus Share

Sheela Foam Ltd. a top manufacturer of PU foam announced a 1:1 bonus share. It is a mid-cap stock with Rs. 14,122 crore market capitalization. Its share price has surged by 3.19% in the last 5 days. The stock is now available at a near 52-week low price.

The company informed the stock exchanges, "The Board of Directors has considered and recommended a bonus issue of 1 equity share for every 1 equity share held, subject to approval by the shareholders and any other applicable statutory and regulatory approvals. Further, the bonus shares will be credited to those shareholders who are holding the equity shares as on a record date to be determined by the Board of Directors."

Stock performance

The share price of the company closed at Rs. 2,905 a piece on NSE, till last traded. The stock has surged by 10.38% in the past 1 month, but fell by 16.64% in the last 6 months. Additionally, in the last 5 years, the stock has given an 89% return to its shareholders. The 52-week high level of this stock is Rs. 4,055, and the 52-week low level of this stock is Rs. 2,542.60.

A leader in Polyurethane (PU) Foam, Sheela Group is a multi-billion rupee entity. It has a nationwide presence in manufacturing PU Foam with a global marketing perspective and an impeccable track record, since 1971. Sheela Group is committed to a one-point programme that of bringing comfort, convenience and luxury to enhance the lifestyle of a modern man.

Disclaimer

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