On Monday this micro-cap stock hit a 5% upper circuit after the company set a record date for stock split and bonus issue in the ratio of 1:2 and 1:1 respectively. The stock has delivered 48% returns in six months and 18% returns in one year. Currently, shares are trading above the 50-day and 200-day moving averages.
Rudra Global Infra Products Ltd
Rudra Global Infra Products Ltd. the company has a market capitalisation of Rs. 295 Cr. On Monday the stock hit 5% upper circuit at Rs. 117.95 on BSE.
According to the company filing, the board of Rudra Global Infra Products Ltd has fixed record date as October 18, 2023, for the purpose of sub-division/ split of existing shares in the ratio of 1:2, i.e., each fully paid-up equity share having face value of Rs. 10 each will be split into two fully paid equity shares having face value Rs. 5 each.
Post-spilt, the company will issue bonus shares in the ratio of 1:1, i.e., one bonus equity share of the face value of Rs. 5 each for one fully paid-up equity share of Rs. 5 each. The record date for the bonus issue is the same as the stock split which is October 18, 2023.
The company’s total revenue grew by 41% from Rs. 97.68 Cr in Q1 FY23 to Rs. 138.30 Cr in Q1 FY24 and for the same period, net profits increased by 28% from Rs. 3.84 Cr to Rs. 4.92 Cr.
As per the latest shareholding information, Promoters hold 72.88% and the public hold a 27.12% stake in the company.
Rudra Global Infra Products Ltd is a company that manufactures TMT Bars and Billets. It is engaged in various businesses like Ship recycling, Oxygen plant, Induction Furnace, and Re-rolling mill, producing more than 2 lakh MT per annum of Steel.
Written by Sheshadri N
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