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Bonus Issue, Share Buyback: 2 Mid Cap Multibagger Stocks Make Key Announcement
Two mid-cap stocks have announced their decisions pertaining to revision of record date for bonus issue and share buyback. Board of Maharashtra Seamless has revised record date for 1:1 bonus shares and the new record date is November 28, 2022 (earlier it was November 24, 2022). Meanwhile, Indian Energy Exchange Ltd has declared that its board will consider shareback on November 25, 2022. Check key takeaways below:
1. Maharashtra Seamless Revises Record Date For 1:1 Bonus Issue
The board of directors of the company stated in the BSE filing on November 19, 2022, "With reference to our letter dated 11th November, 2022, wherein we had intimated the 'Record Date' as 24th November, 2022 for issue of bonus equity shares, subject to approval of shareholders. As suggested by the Stock Exchanges, the Record Date for issue of bonus equity shares has been revised and fixed Monday, 28th November, 2022 as 'Record Date' to ascertain the shareholders entitled to receive bonus equity share in the proportion of 1 (One) Equity Share for every 1 (One) existing Equity Share, subject to the approval of shareholders which is being obtained through Postal Ballot."
2. Maharashtra Seamless Stock Outlook, Market Capitalisation, & Return
The last trading price of the stock is Rs 805 apiece with 52-week high at Rs 910 and 52-week low at Rs 448 apiece, respectively. The mid cap company has a market capitalisation of Rs 5393 crore. The shares have given 110% return in last 3-years, and 56% return in last 1-year. The company was incorporated in 1988 and operates in Metals-Ferrous sector.
3. Indian Energy Exchange Ltd To Consider Share Buyback On November 25
The board of directors of the mid-cap company stated in the regulatory filing on November 18, 2022, "Pursuant to aforesaid regulation, we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, November 25, 2022, inter-alia, to consider a proposal for buyback of fully paid-up equity shares of the Company in accordance with the provisions of the Companies Act, 2013, and the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended."
4. Indian Energy Exchange Stock Outlook, Market Capitalisation, & Return
The current market price of the stock is Rs 138 apiece with 52-week high at Rs 304 and 52-week low at Rs 133 apiece, respectively. The mid cap company has a market capitalisation of Rs 12,437 crore. The stock has given a return of 174% in last 5-years and 190% in last 3-years. The shares have declined 47% in last 1-year.
The mid cap company operates in Financial Services sector and it was incorporated in 2007.
Disclaimer
The stocks give details related to share buyback and revision of record date for 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.
