1:1 Bonus Share: Forging Stock Trades Ex-Bonus, Bonus Allotment Update Issued

Small cap company MM Forgings Ltd shares today hit 52-week high as shares traded ex-bonus in the ratio of 1:1. Current market price of MM Forgings share on BSE is Rs 667.25 per share with decline of 2.57%. MM Forgings on July 8 fixed July 16, 2024 as the record date for 1:1 bonus issue. MM Forgings shares offered shareholders return of over 46% in last 3-months and 210% in last 5-years. Its market capitalisation stood at Rs 3,221.59 crore. It is worth noting that MM Forgings will convene its meeting of Board of Directors on July 17, 2024 for approving the allotment of bonus share. MM Forgings also recommended an interim dividend of Rs 8/share and fixed June 7, 2024 as the record date. Check details below:

MM Forgings Shares Trade Ex-Bonus: According to the exchange filing of MM Forgings dated July 8, 2024, "In furtherance to our letter dated 29 May 2024 and 08 July 2024 and pursuant to Regulation 42 of Listing Regulations, we wish to inform you that the Company has fixed Tuesday, 16 July 2024 as the record date for ascertaining eligibility of Members who shall be entitled for allotment of bonus equity shares in the ratio of 1:1 i.e., 1 (One) Equity Share of Rs 10/- each for every 1 (One) existing Equity Share of Rs 10/- each."

MM Forgings Share Performance: The 52-week high price of MM Forgings share on BSE is Rs 725.00 per share (as on 16/07/2024) and 52-week low price is Rs 415.50 per share (as on 27/10/2023). MM Forgings shares rallied over 46% in last 3-months, gained 43% in last 1-year, offered return of 54% in last 2-years, and rallied 210% in last 5-years.

MM Forgings Q4: MM Forgings announced a rally of 36.47% in its standalone net profit for the quarter ended March 31, 2024 to Rs 38.62 crore as against Rs 28.30 crore announced in the corresponding quarter of last year. Total standalone income of MM Forgings for the quarter under consideration declared at Rs 395.76 crore as compared to Rs 378.65 crore declared in the corresponding quarter of last year. MM Forgings announced revenue from operations at Rs 387.92 crore for March 2024 quarter from Rs 372.45 crore declared in March 2023. Total standalone expenses for the quarter under review announced at Rs 344.13 crore as against Rs 334.31 crore declared in March 2023.

About: M.M. Forgings Limited is engaged in the manufacturing and sale of iron and steel forgings in India. The company offers steel forgings in raw, semi-machined, and fully machined stages in various grades of carbon, alloy, micro alloy, and stainless steels in the weight of 0.20 Kg to 60 Kg. It also manufactures closed die forgings and exports its forgings primarily to OEMs in the North American and the European markets. The company was formerly known as Madras Motors Limited and changed its name to M.M. Forgings, according to its LinkedIn profile.

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The stock highlights the bonus share, record date 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.