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Small Cap Stock Declares 2:1 Bonus & Stock Split, Jumps 1046% From Lows

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Captain Pipes, a manufacturer and exporter of pipes has declared a bonus and a stock split of shares. Here are some of the details.

 

Stock split and Bonus issue of Captain Pipes

Stock split and Bonus issue of Captain Pipes

The board of Captain Pipes has declared a 2:1 bonus issue of shares. "Issue of 2 (Two) Bonus Shares for every 1 (One) Equity Shares held by the Equity Shareholders of the Company as on ''Record Date''. The Bonus Issue of Equity Shares is subject to the approval of the shareholders and other applicable statutory and regulatory approvals, as may be required. The Company will intimate the ''Record Date'' for determining eligible Shareholders entitled to receive bonus shares, in due course of time," the company said in a release to the BSE. The company has also decided to split the face value to Re 1 from Rs 10.

"Alteration in Capital of the Company by Split/Sub-division of 1 (One) Equity Share of the Company having face value of Rs. 10/- each into 10 (Ten) Equity Shares of the Company having face value of Re. 1/- each," the company said.

Share price movement
 

Share price movement

The stock of the company hit a 52-week low of Rs 57.50 and has jumped to Rs 659. The stock has seen substantial traction from 52-week lows. In fact, the shares have now rallied as much as 1046% from 52-week low prices. One of the reasons also has been the board meet for declaration of bonus and stock split.

Area of business of Captain Pipes

Area of business of Captain Pipes

Captain is a leading manufacturer and exporter of PVC pipes. The company offers a complete range of piping solution for application in agriculture, plumbing and drainage. Its products include uPVC Column Pipes, Borewell pipes, uPVC Pressure Pipes etc.

Disclaimer

Disclaimer

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. This article is for information purposes only and not in any way a stock recommendation. 

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