New 52-Week High: Small Cap Metal Stock Okays 2:1 Stock Split, 1:1 Bonus Share

Board of directors of small cap company from metal sector, Maan Aluminium Ltd gave their nod to 2:1 stock split and 1:1 bonus issue. Soon after board okayed issue of bonus share and sub-division of shares, Maan Aluminium shares traded new 52-week high. Maan Aluminium stock surged 1.60% to close at Rs 322.90 per share on Friday. Maan Aluminium gave return of 174% in last 1-year. Check details below:

Maan Aluminium Approves Stock Split: According to the BSE filing of the company, "Alteration in Capital of the Company by Split/Sub-division of 1 (One) Equity Share of the Company having face value of Rs. 10/- each into 2 (Two) Equity Shares of the Company having face value of Rs. 5/- each. Details of Split/ Subdivision of shares in terms of SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 ("SEBI Circular") are attached as Annexure -A."

Maan Aluminium Gives Nod To Bonus Issue: As per its regulatory filing, "The Board has recommended to Issue of 1 (One) Bonus Shares for every 1 (One) Equity Shares held by the Equity Shareholders of the Company as on 'Record Date' by way of capitalization of Free Reserves subject to the approval of shareholders in forthcoming Annual General Meeting of the Company in compliance with applicable provisions of the Companies Act, 2013 read with the rules notified and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and subsequent amendments thereto."

The Company will inform in due course, the "Record Date" for determining shareholders entitled to receive Bonus Shares.

Maan Aluminium Stock Performance & Return: Last trading price of Maan Aluminium stock is Rs 322.90 per share. Its 52-week high price is Rs 327.00 per share and 52-week low price is Rs 99.15 per share, respectively. It has a market capitalisation of Rs 436.60 crore.

Maan Aluminium share offered return of 77% in just last 1-month, 60% return in last 3-months, 193% return in last 2-years, and 1342% return in last 3-years.

About: Maan Aluminium Limited was established in 1989 as Man Aluminium Limited. At the time it was one of the first Aluminium Extrusion Plants to be commissioned in Central India. Maan was founded as a limited company with equity participation of Financial Institutions, public and its promoters at the time. Over the next two decades Maan Aluminium performed exceedingly well in the extrusion profile domain of the aluminium industry, according to its LinkedIn page.