Multibagger Small Cap Stock Approves 1:1 Bonus Issue, Revises Record Date For Rs 5/Share Dividend

Shares of small cap company operating in Auto Ancillaries sector, Shriram Pistons & Rings surged 4.32% on June 14. Board of directors of the company on June 13 approved bonus issue of equity shares in the proportion of 1:1. Shriram Pistons & Rings shares gave return of 140% in last 1-year. The company also announced dividend of Rs 5.00 per share on May 8, 2023 and fixed June 23 as the record date. Check details below:

Shriram Pistons & Rings Declares 1:1 Bonus Issue: As per the NSE filing of the company, "Approved the Bonus Issue of Equity Shares in the proportion of 1:1 i.e. 1 (one) fully paid-up Equity Share of Rs. 10/- each for every 1 (One) fully paid-up Equity Shares of Rs. 10/- each held by the shareholders of the Company, subject to shareholders' approval in the ensuing Annual General Meeting (AGM)."

Shriram Pistons & Rings Revises Record Date For Dividend: According to the exchange filing of Shriram Pistons, "This is further to our letter dated 9.5.2023, wherein it was informed that the Board of Directors in its meeting held on 8.5.2023 decided the Record Date on Tuesday, 27.6.2023 for the purpose of ascertaining the entitlement of Members to the Final Dividend of ₹5/- per equity on the face value of ₹10/- each on the equity shares of the Company for the FY 2022-23."

In view of the consideration of the issuance of Bonus Shares, the Board decided to revise the record date on Friday, 23.6.2023, for the purpose of Final Dividend for the FY 2022-23, added the NSE filing of the company.

Shriram Pistons & Rings Stock Performance & Return: Current market price of Shriram Pistons & Rings stock is Rs 1657.55 per share with intraday gain of 4.32 per share. Its 52-week high price is Rs 1686.00 per share and 52-week low price is Rs 640.00 per share, respectively. In last 3-months, Shriram Pistons & Rings shares delivered 54% return, 140% return in last 1-year, and 180% return in last 3-years.

About: The Company is the largest manufacturer of Pistons, Pins, Rings, and Engine Valves in India with two Manufacturing units in Ghaziabad, Uttar Pradesh, Pathredi (Rajasthan). Its products are marketed to almost all OEMs and Aftermarkets under the brands SPR and USHA, names that are synonymous with Quality and Reliability globally, according to its official website.

Disclaimer: The stock issued bonus share and revised record date for dividend. 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.