11:4 Bonus, 1:10 Stock Split Approved: Small Cap Stock Shares Skyrocket, Jump 518% In 3-Months

Board of small cap stock Rhetan TMT approved stock split and bonus issue on Wednesday. The company has approved bonus issue of equity shares in the ratio of 11:4. The board of directors of Rhetan TMT has given nod to 1:10 stock split. The company has a market capitalisation of Rs 997 crore. Check key takeaways below:

1. Board Of Rhetan TMT Approves Stock Split, Bonus Issue

The board of directors of the company said the following in the BSE filing:

Stock Split: "This is to inform you that the Board of Directors of the Company in its meeting held today i.e. on Wednesday, 21st December has considered 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 10 (Ten) Equity Shares of the Company having face value of Re. 1/- each."

Bonus Issue: "This is to inform you that the Board of Directors of the Company in its meeting held today i.e. on Wednesday, 21st December has considered Issue of 11 (Eleven) Bonus Shares for every 4 (four) Equity Shares held by the Equity Shareholders of the Company as on 'Record Date'. The Bonus Issue of Equity Shares is subject to the approval of the shareholders and other applicable statutory and regulatory approvals, as may be required. The Company will intimate the 'Record Date' for determining eligible Shareholders entitled to receive bonus shares, in due course of time."

2. Rhetan TMT Stock Performance

The last trading price of the stock on BSE is Rs 469 apiece with an intraday gain of 4.37%. The stock's 52-week high is Rs 469 apiece and 52-week low is Rs 50 apiece, respectively.

3. Rhetan TMT Return

The shares of the company have skyrocketed in the last few months. In last 1-month, the stock has rallied 143% and 518% in last 3-months.

4. About Rhetan TMT

Incorporated in 1984, Rhetan TMT Limited manufactures TMT Bars and Round Bars which are primarily used in the construction industry. The company's plant is located in Gujarat and is spread over 15,000 sq. yards.

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