2:1 Bonus Shares: Multibagger Penny Stock Falls 6.23% Today, Record Date In 7-Days

Small cap company operating in metals & ferrous sector, Rama Steel Tubes Ltd shares declined 6.23% in trade today to settle at Rs 38.38 apiece on BSE. Rama Steel Tubes shares witnessed decline of 9.20% in last 2-weeks. The company on January 24, 2024 recommended bonus issue in the ratio of 2:1. On March 6, 2024 Rama Steel Tubes fixed March 19, 2024 as the record date for bonus issue. Rama Steel Tubes shares surged 185% in last 2-years and 20% in last 1-year.

Despite today's decline, Rama Steel Tubes shares recorded spurt in volume by more than 2.39 times. Rama Steel Tubes has a PE of 81.89 and ROE of 9.53. Its EPS (TTM) is 0.50. Check details below:

Rama Steel Tubes To Go Ex-Dividend Next Week: According to the regulatory filing of Rama Steel Tubes dated March 6, 2024, "We wish to inform that pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors has fixed Tuesday, March 19, 2024, as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Shares."

Rama Steel Tubes Shares Performance & Return: The 52-week high price of Rama Steel Tubes shares on BSE is quoted at Rs 50.50 apiece and 52-week low price is quoted at Rs 26.10 apiece, respectively. The company has a market capitalisation of Rs 1893.50 crore. Rama Steel Tubes shares gained 5% in last 6-months, rose 1256% in last 3-years, gained 1371% in last 3-years, and jumped 915% in last 5-years.

It is worth noting that promoters of Rama Steel bought 25,00,000 shares and surged their stake to 57.22% for December 2023 quarter as against 57.14% in September 2023.

Rama Steel Stock Split History: Rama Steel Tubes split face value of its shares twice since March 14, 2016. Rama Steel Tubes' last split face value of its shares from Rs 5 to Re 1 in 2022. The share traded ex-split on August 25, 2022, according to Trendlyne.

Rama Steel Tubes Financials: The company for the quarter ended December 30, 2023 declared its net profit at Rs 9.17 crore, up 22.92% as compared to Rs 7.46 crore for the corresponding quarter of last year. The company's sales fell 25.08% for the December 2023 quarter to Rs 262.39 crore as against Rs 350.25 crore during the similar quarter of last year. Total income of Rama Steel came down to Rs 265 crore for December 2023 quarter as against Rs 355.95 crore announced an year ago. Its expenses fell to Rs 254 crore for the quarter under review from Rs 347.59 crore in Q3 of last fiscal.

Rama Steel Tubes About: Rama Steel Tubes is engaged in the manufacturing of steel pipes, tubes, and G.I. pipes in India. In came into existence in 1974. The company has a 20% export rate and a global presence in more than 16 countries.

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