Rs 2/Sh Dividend, 1:1 Bonus Issue: Power Mech Sets Record Date, Shares Gain 404% In 2-Yrs

Small cap infrastructure-construction company Power Mech Projects Ltd today recommended 1:1 bonus share to commemorate 25 years of its existence. The company also fixed September 28, 2024 as the record date for final dividend. Current market price of Power Mech Projects shares on BSE is Rs 6384.90 per share. Power Mech Projects Ltd shares offered return of 404% in last 2-years and gained 16% in last 2-weeks. The company's market capitalisation stood at Rs 10,093.34 crore. Check details below:

Power Mech Projects Ltd Approves Bonus Share: According to the company's BSE filing declared today (August 22, 2024), "commemorating 25 Glorious years of existence and growth and to reward the shareholders, the Board decided to issue bonus shares in the ratio of 1:1 ie.. one share for every one equity share of Rs. 10/- each fully paid up subject to the approval of shareholders at ensuing 25th Annual General Meeting which is scheduled to be held on 27th September, 2024. The Bonus Shares shall rank pari passu in all respects and carry the same rights as the existing equity shares of the Company."

Power Mech Sets Record Date For Bonus Share: The BSE filing added, "the Board has approved fixation of Saturday, 28th September 2024 as Record date to determine the eligibility of shareholders/Beneficial Owners who are entitled for receipt of Bonus shares, subject to approval of Bonus Issue by the shareholders at the ensuing AGM."

Power Mech Projects Sets Record Date For Dividend: The Board of Power Mech fixed Saturday, 28th September 2024 as Record date to determine the eligibility of shareholders/Beneficial Owners who are entitled for receipt of Final Dividend. Earlier, Power Mech recommended a final dividend of Rs 2/- per equity share of the face value of Rs 10.00 each.

Power Mech Projects Shares Performance: The 52-week high price of Power Mech Projects on BSE is Rs 6500.00 apiece (as on 24/07/2024) and 52-week low price is Rs 3342.75 apiece (as on 02/11/2023), respectively. Power Mech Projects shares gained over 30% in last 3-months, rose 56% in last 1-year, offered return of 654% in last 3-years, and zoomed 828% in last 5-years.

About: Power Mech Projects Limited, is one among the leading infrastructure-construction Companies based in Hyderabad, India with global presence and highly credited in providing spectrum of services in power and infrastructure sectors. It was established in the year 1999 by an enthusiastic engineering entrepreneur S. Kishore Babu with chosen motto of providing service with high quality, safety and time line, the three virtues still holding the Company in high esteem.

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