Small Cap Stock Approves 1:7 Bonus Issue, Scrip Surges 11.17% In 1 Week

DP Wires Ltd, a small-cap firm operating in the Iron and Steel Products industry, on Friday, September 29, 2023, approved Bonus Issues in the ratio of 1:7. Accordingly, the company will issue an extra share for every seven shares held by investors, provided they are eligible as of the record date.

The record date for the said Bonus Issue will be announced in due course, the company stated in an exchange filing.

According to the Board of Directors of the company, "To Issue Bonus shares in ratio of 1 new equity share against 7 equity shares held on record date to the eligible shareholders of the company. The Record Date for the said purpose will be informed to the stakeholders in due course."

The share of D P Wires on Friday surged after the company approved the Bonus Issue. It closed 1.41% higher at Rs 710.10 apiece on the BSE with the day's highs and lows of Rs 719.10 and Rs 697.15, respectively. The stock gained 11.17% in 1 week. It gained 8.46% in 2 weeks and 5.49% in 1 month. The stock was listed on August 28, 2023. It has a market cap of Rs 963.46 Crore.

Disclaimer

The stock just 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.