Bonus Issue, Stock Split Likely On Sept 5: Small Cap Metal Stock Hits 3 Consecutive Upper Circuits

Board of small cap stock Rudra Global Infra Products Ltd on September 5 is likely to declare bonus issue and stock split, according to its August 26 BSE filing. Rudra Global Infra shares hit 3 consecutive upper circuits now. The stock hit upper circuit on August 28, August 29, and August 30. It also witnessed spurt in volume by more than 1.30 times in trade today. Current market price of Rudra Global Infra share is Rs 118.85 apiece with intraday gain of 4.99% as on August 30. Check details below:

Rudra Global To Hold Meeting On September 5 For Bonus, Stock Split Announcement: As per the BSE filing of Rudra Global dated August 26, "A meeting of The Board of Directors of the company is scheduled to be held on September 05, 2023, at 04:00 PM to inter alia, consider and approve the following businesses;

1) To consider stock split /sub-division of equity shares of the company;

2) To recommend and approve the issue of bonus shares to the equity shareholders of the company;

3) To increase the authorized share capital of the company and subsequent alteration to the memorandum of association of the company;

4) To discuss any other business with the permission of the chair.

Rudra Global Infra Stock Performance & Return: Current market price of Rudra Global Infra share on BSE is Rs 118.85 apiece. Its 52-week high price is Rs 147.70 apiece and 52-week low price is Rs 54.25 apiece, respectively. The company has a market capitalisation of Rs 298.15. The small cap stock operating in metals and ferrous sector rallied 44% in last 3-months, gained 25% in last 6-months, and soared 14% in last 1-year. Rudra Global Infra stock rose 17% in last 3-years and fell 42% in last 5-years.

Rudra Global Financials: The company for the quarter ended June 30, 2023 announced a surge of 1.86% in its consolidated total income to Rs 138.31 crore as against its previous quarter total income of Rs 135.78 crore. The company declared its latest quarter net profit after tax at Rs 4.40 crore.

Rudra Global About: It operates in the steel industry. Rudra Global manufactures TMT bars and Billets and trades in Cement. It is engaged in various businesses like Ship recycling, oxygen plant, Induction Furnace, Re-rolling mill, producing more than 2 Lakh MT per annum of steel, with a group turnover around 1000 crore per annum.

Disclaimer

The stock just highlights the bonus issue, 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.