Textile Stock Announces Bonus Share In 1:1 Ratio, Stock Gains Over 4%: Check Record Date

Ruby Mills Ltd is engaged in the fabric weaving business. The composite textile mill manufactures cottons. Its product range includes cotton & blended yarns, custom made fabrics from various manmade & natural fibers like linen, viscose, cotton, lyocell, modal, polynosic and the blends of the same for shirting, suiting & dress materials. It seeks to explore and experiment with new blends refined through processing and finishing technology. Ruby Mills has been exporting fabrics and yarn chiefly to the USA, Europe and UK.

The company has announced bonus share in the ratio of 1:1 and soon after this announcement the shares of the company gained 4.45%. Check key details below:

1. Ruby Mills Announces Bonus Issue

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), the Board of Directors of Ruby in their meeting held today ie. August 10, 2022 has inter alia, considered, approved and recommended the issue of Bonus equity shares in the ratio of 1:1 ie. 1 (One) Bonus Share of Rs. 5/- each for every 1 (One) fully paid equity share held as on the Record date i.e. 19th September 2022, by the shareholders of Ruby.

2. Ruby Mills Stock Outlook

The current market price of the stock is Rs 485 apiece. The stock gained 4.45% soon after the company announced its plan to issue bonus shares. The 52-week high of the stock is Rs 500 apiece and 52-week low is 231 apiece.

Multibagger Returns: The stock has given return of 29% in 1 month, 23% in 3 months, 72% in 1 year, 213% in 3 years, and 60% in 5 years.

3. About Ruby Mills Ltd

Built on the solid foundation of technical expertise, impeccable product quality, and non-negotiable business ethics, the Ruby Mills have been the hallmark of textile innovation in India since 1917. It seeks to promote sustainable fibres and are developing a variety of new fabrics by working closely with the fibre manufacturers.

It looks forward to collaborating with brands and designers who share its vision and concern for the planet and enable them to create sustainable products with its innovative fabric range, according to its official website. The small-cap company has a market capitalization of Rs 832 crore.