Bajaj Steel Industries Ltd: This Monday the stock of the small-cap firm Bajaj Steel Industries is going to be in the sights of investors.
The company last month the company announced bonus issues to its shareholders. It was recorded for November 12, 2024.
In this case that day, the share of this company is trading at the time of an expiration date.
The company announced in a press release on October 3, that its board members had voted in favor of that the issue of bonus shares.
To determine whether shareholders are eligible the date of the Tuesday, 12 November 2024 is set as a “record date”.
3 Shares Will Be Available Free On 1 Share
In this scenario, today was the last opportunity for investors to purchase shares to avail of the bonus issue that is being offered through Bajaj Steel Industries.
The bonus issue of 3:1 implies that for each share that is already owned by the shareholder, the company will issue three shares free of cost.
This is an increase in the total amount of shares owned by the shareholders, however there is no change to the amount they invest. The share price for this bonus will increase.
200 Percent Return In 2024
According to information, the company has issued a bonus offer for shareholders for the first time.
In terms of the company’s performance, it is a success in the upcoming calendar year 2024, up to date.
It has tripled the amount of money it has received from its shareholders and has provided a return of more than 200 percent and in the past six months, its share price has risen by an average of 168 percent.
Rise Is Coming Ahead
On Friday, the shares were trading at Rs 3445.85 which was down by 9.35 rupees or 0.27 percent from the prior closing price of Rs 3455.20.
The 52-week peak is Rs 3724 and its 52-week low stands at Rs 1030.60. The market cap for Bajaj Steel is Rs 1.79 thousand crore.
The price-to-earnings (P/E) ratio of 21.22 indicates that buyers could be active, whereas the dividend payout is 0.087 percent.
Quick Fact
| Company name | Bajaj Steel Industries |
|---|---|
| Bonus issue ratio | 3:1 |
| Bonus share record date | 12 November 2024 |
| Bonus issue purpose | Increase shareholder share count |
| 2024 return to date | Over 200% |
| Last 6 months increase | 168% |
| Market capitalization | ₹1.79 thousand crore |
| P/E ratio | 21.22 |
| Dividend payout | 0.087% |
| Possible price movement | Rise anticipated |
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