1:2 Stock Split, 1:1 Bonus Issue: Metal Stock Hits Upper Circuit, 52-Week High

Shares of small cap metal stock, Maan Aluminium on Tuesday hit upper circuit and new 52-week high. The company on June 10 fixed July 27, 2023 as the record date for 1:1 bonus issue and 1:2 stock split. Maan Aluminium shares offered 117% return YTD (year-to-date) and offered 1283% return in last 3-years. Check details below:

Record Date For Stock Split & Bonus Issue: The company fixed July 27, 2023 as the record date for bonus share and stock split.

Maan Aluminium on June 9 Recommended 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 Recommended 1:1 Bonus Issue On June 9: 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."

Maan Aluminium Stock Performance & Return: Last trading price of Maan Aluminium share is Rs 369.00 per share with intraday gain of 4.46%. Its 52-week high price is Rs 370.90 per share and 52-week low price is Rs 117.05 per share, respectively. Its market capitalisation is Rs 501.50 crore. Maan Aluminium stock soared 84% in last 3-months, offered 185% return in last 1-year, rallied 89% in last 2-years, and gave return of 1283% in last 3-years. In last 5-years, Maan Aluminium shares jumped 517%.

About The Company: 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.

Disclaimer: The stock highlights bonus share, stock split 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 ay losses. Please consult a professional advisor.