Leading Pharma Stock Declares Record Date For Bonus Share Issue

Torrent Pharmaceuticals is the flagship company of Torrent Group and emerged as one of the leading pharma companies in India. The Company was a pioneer in initiating the concept of niche marketing in India and today is ranked amongst the leaders in therapeutic segment of cardiovascular (CV), central nervous system (CNS), gastro-intestinal (GI) and women healthcare (WHC).

It has gained strong presence in diabetology, pain management, gynaecology, oncology and anti-infective segments. Torrent Pharmaceuticals is in news these days as it has declared the record date for bonus share. Check key details below:

1. Torrent Pharma Bonus Share Issue

The board of directors has set July 11, 2022 as the record date for bonus share issue. It has also informed the stock exchange regarding the same, "Pursuant to Regulation 42 of Listing Regulations,. the Company has fixed Monday, July 11, 2022, as the Record Date for the purpose of determining the names of Members who shall be entitled for allotment of bonus equity shares in the ratio of 1: 1 i.e. 1 (One) new fully paid-up equity share of Rs 5/- each for every 1 (One) fully paid-up equity share of Rs 5/­ each held by the existing Members of the Company."

Earlier, the board of directors in their BSE filing dated 25 May 2022 stated, "Issue of Bonus shares in the ratio of 1: 1 i.e. one equity share for each fully paid up equity share held as on record date fixed for the purpose. Consequent to the bonus issue, the total paid up share capital will be Rs. 169.22 Crores from the existing Rs. 84.62 crore. Today the pharma stock has turned ex-bonus."

2. Torrent Pharma Dividend

Torrent Pharma had also announced dividend on May 25, 2022. It said in its BSE filing, "A final dividend of Rs. 23/- (460%) per equity share of Rs. 5/- each including the special dividend of Rs. 15/~ per equity share. The final dividend amount, if declared by the Shareholders, is proposed to be paid/ dispatched on or around 4th August, 2022. Earlier an interim dividend of Rs. 25/- (500%) per equity share was paid during the last quarter.

It has declared an equity dividend of 960% equivalent to Rs 48 per share for the year ending March 2022. It has a dividend yield of 3.27%. In other words, it declared Rs 8 per share final dividend, Rs 15 per share special dividend, and Rs 25 per share interim dividend which become Rs 48 per share. Torrent Pharma has a good dividend track record and declared dividend for the last 5 year without fail.

3. Torrent Pharma Stock Outlook

The current market price of Torrent Pharma is Rs 1466 apiece. Its 52-week high is Rs 1649 apiece and 52-week low is 1242 apiece. It has a PE of 31.94 and sector PE is 29.32. It has a market capitalization of Rs 24,819 crore.