This Small Cap Plastics Company Announces 2:1 Bonus Issue

This company from the plastics industry during its announcement made today (October 22, 2021) announced and approved issuance of bonus shares in the proportion of 2 (Two) equity share of Rs. 10/- each for every 1 (One) Equity Shares of Rs. 10/- each held by the shareholders of the Company as on the record date, subject to the approval of members and other approvals, consents, permissions, conditions and sanctions, as may be necessary.

Apollo Pipes in a BSE filing said that the the Board of Directors of the Company at its meeting held on October 22, 2021, inter alia, has considered and approved the following;

- Recommendation of issue of bonus equity Shares in the proportion of 2 (Two) equity share of Rs. 10/- each for every 1 (One) Equity Shares of Rs. 10/- each held by the shareholders of the Company as on the record date, subject to the approval of members and other approvals, consents, permissions, conditions and sanctions, as may be necessary.

The company's last trading price has been Rs. 1859.60 per share. The stock's 1 year return has been at 353% while its year to date return has also been impressive at 162 percent.

The company's peer companies are Nahar Poly Film, PPL, Sintex Plastics etc.

Apollo Pipes is a leading PVC pipe manufacturing company that is into offering pipes & fittings, or bathroom fittings or water storage solutions. The company has established presence in most of the sectors including Plumbing, Sanitation, Water Supply, Infrastructure, Agriculture Oil & Gas, and Construction.