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Invest In This Auto Stock, Trading 5% Away From 52-Week Low, To Receive Bonus Share In October
The board of Samvardhana Motherson International Ltd has announced record date for issuing bonus share in the ration of 1:2 in a bid to ascertain the eligibility of shareholders for bonus issue. The large-cap company has a market capitalisation of 53,374.60 crore. Check below key takeaways pertaining to bonus issue:
1. Samvardhana Motherson International Ltd Sets Record Date For Bonus Issue
The board of director of the company has stated in their BSE filing, "This is with reference to our letter dated August 16, 2022 in respect of recommendation made by the Board of Directors of the Company for issue of bonus shares to the shareholders in the ratio of 1 (one) bonus equity share against 2 (two) existing equity shares, subject to the approval of the shareholders. Further, the shareholders of the Company have approved aforesaid issue of bonus shares by passing an Ordinary Resolution by means of Postal Ballot, results of which have been declared by the Company today, i.e., September 23, 2022. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Wednesday, October 5, 2022 as 'Record Date', for the purpose of ascertaining the eligibility of shareholders entitled for issuance of bonus shares by the Company."
Therefore, the company has decided to set October 5, 2022 as the record date for the purpose of ascertaining the eligibility of shareholders entitled for issuance of bonus shares in the ratio of 1:2.
Samvardhana Motherson International Ltd Stock Outlook
The current market price of the stock is Rs 118 apiece with an intraday decline of 2.92% as on Friday. The stock is trading just 5% Away from 52-week low. The stock's 52-week high is Rs 206 apiece and 52-week low is Rs 112 apiece, respectively.
Samvardhana Motherson International Ltd Market Capitalisation
The company has a market capitalization of Rs 53,374.60 crore.
Samvardhana Motherson International Ltd Quarterly Results
The company for the quarter ended June 30, 2022 declared a consolidated total income of Rs 17,712 crore, up 2.23% from last quarter total income of Rs 17,326 crore. It has declared a net profit after tax at Rs 180 crore in the latest quarter.
Samvardhana Motherson International Ltd 5-Years Return
The stock has declined 47% in the last 5 years, gained 2% in the last 3 years, and fell yet again 48% in the last 1 year.
Samvardhana Motherson International Ltd About
Motherson is one of the world's largest manufacturers of components for the automotive industry. It came into existence in 1986 and operates in auto ancillaries sector.
Disclaimer
Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article.
