6:1 Bonus Issue: Small Cap Stock Hits New 52-Week, 3-Months Return 197%, Buy

GM Polyplast Limited is one of the leading manufacturers of HIPS, ABS, PET, PP, HDPE Sheets and Granules. The company started its operations back in 2003. Today, the small cap company announced 6:1 bonus issue that implies that shareholders will get 6 bonus shares for every 1 share held on the record date. Check key takeaways below:

1. GM Polyplast Ltd To Issue Bonus Shares In 6:1 Ratio

The board of directors of the company stated in the BSE filing, "Recommends issue of Bonus Share in the ratio 6 (Six) fully paid-up equity shares for every 1 (One) existing full paid-up equity share held by the shareholders, subject to the approval of the members of the Company, i.e. issue upto 1,15,36,800 (One Crore Fifteen Lakhs Thirty Six Thousand Eight Hundred Only) equity shares of INR 10/- (Indian Rupees Ten Only) each as bonus shares of an aggregate nominal value up to INR 11,53,68,000 /- (Indian Rupees Eleven Crore Fifty Three Lakhs Sixty Eight Thousand Only), as bonus shares to the shareholders out of the Securities Premium Account of the company for distribution among the holders of existing fully paid equity shares of INR 10/- (Indian Rupees Ten Only) each of the company."

2. GM Polyplast Ltd Shares Hit New 52-Week High

The shares of GM Polyplast hit new 52-week high in trade today. The shares opened at Rs 787 apiece, touched the day's high at Rs 787 apiece, and day's low at Rs 787 apiece. The stock gained 5% intraday. The last trading price of the stock is Rs 787 apiece. Its 52-week high is Rs 787 and 52-week low is Rs 167 apiece, respectively.

3. GM Polyplast Ltd Return

The stock has given a return of 308% in last 1-year, 197% in last 3-months, and 40% in last 1-month.

4. About GM Polyplast

The Company is engaged in manufacturing of Plastic Sheets and Rolls. It was initially incorporated as G M Polyplast Private Limited under the provisions of Companies Act 1956 vide Certificate of Incorporation dated 27th November 2003 issued by the Registrar of Companies Mumbai. Its name subsequently changed to G M Polyplast Limited.

Disclaimer

The stock provides details related to bonus issue. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.