1 Navratna Stock, One Aluminium Stock To Trade Ex-Bonus Soon: Key Takeaways

One mid-cap navratna finance stock namely REC Ltd and one small cap stock Hardwyn India Ltd will go ex-bonus soon. Hardwyn is a manufacturer of architectural hardware products established in 1965 which provides complete solution to residential and commercial structures. The current market capitalization of Hardwyn is Rs 306 crore.

Meanwhile, Navratna Company REC Ltd (Rural Electrification Corporation Limited) comes under the Ministry of Power and funds its business with market borrowings of various maturities that may include bonds, term loans, and foreign borrowings. The current market capitalization of REC Ltd is Rs 24,992 crore. Check key details below:

1. REC Ltd

The board of directors of REC held a meeting on June 30, 2022 regarding issue of bonus share and fixed August 18, 2022 as the record date for determining the eligibility of shareholders for bonus shares. The company mentioned in the BSE filing, "In furtherance of our letter dated June 17,2022, the Board of Directors has recommended the issue of Bonus shares to the shareholders of the Company in the ratio of 1:3, i.e. one (1) bonus equity share of ~101- each fully paid-up for every three (3) existing equity shares of ~101- each fully paid- up, to the eligible members by capitalizing a sum not exceeding ~658,30,60,0001- (Rupees Six hundred fIfty eight crore thirty lakh sixty thousand only) out of the sum standing to the credit of 'Securities Premium Account', subject to the approval of shareholders through postal ballot."

The current market price of REC is Rs 126.55 apiece with a decline of 1.21% in today's trading. The 52-week high is Rs 168 apiece and 52-week low is Rs 109 apiece, respectively. The PE of the stock is 2.52 and ROE is 19.70. The stock has fallen 28% in the last 5 years and has given a return of 7% in last one month. The company is effectively using its capital to generate profit.

2. Hardwyn India Ltd

The company has issued bonus share in the ratio of 1:2. The company informed BSE in its filing, "Dear Sir/Madam, In reference to the mail received from Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), this is to inform you that Company has revised the record date and fixed on Tuesday, 26th July, 2022 for the purpose of ascertaining the eligibility of Shareholders entitled for issuance of fully paid up Bonus Shares in the ratio of 1:2 (i.e. issue of 1(One ) equity share for every existing 2(Two) equity shares held of Rs 10/- as on the above mentioned record date), each subject to approval of Shareholders. The Company will declare the result of postal ballot and intimate the same to the Stock Exchanges on 18th July, 2022. Thus, the timeline for ascertainment of Record Date will start from 19th July, 2022. Accordingly, the revised record date i.e Tuesday, 26th July, 2022 is in compliance with the Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) 2015, This is for your information and record."

The current market price of the stock is 200.25 apiece with a gain of 4.98% in today's trading. The 52-week high is Rs 200 apiece and 52-week low is Rs 30.02 apiece. The company has registered strong annual EPS growth.

Disclaimer

The above is the list of stocks that will soon trade ex-bonus. Readers should not construe the story for investment advice into the mentioned stocks.