On Tuesday, the share price of a company engaged in the infrastructure and rendering services relating to civil construction surged 2.4 percent on BSE to hit an intraday high at Rs. 227, after the company’s Board approved bonus issue and stock split.
With a market capitalisation of Rs. 283.75 crore, the shares of Maruti Infrastructure Limited opened at Rs. 225, up by 1.5 percent, compared to its previous closing price of Rs. 221.6.
What’s the news:
According to the latest regulatory filings with the Bombay Stock Exchange (BSE), the Board of Maruti Infra considered and approved the proposal for the stock split at a 1:5 ratio as well as the issue of bonus shares at a 1:2 ratio,
The issue of bonus shares in a 1:2 ratio means that the shareholder will receive 1 share for every 2 shares held.
Additionally, the stock split in the ratio of 1:5, indicates that each Rs. 10 fully paid-up share will be subdivided into 5 shares of Rs. 2 each.
Financials & Stock Performance:
In terms of financials, the company’s total revenue from operations fell by 10.7 percent YoY from Rs. 13.44 crore in Q4 FY22-23 to Rs. 12 crore in Q4 FY23-24, while the after-tax profit has declined from a profit of Rs. 0.71 crore to a loss of Rs. 1.01 crore, during the same period.
The stock has delivered positive returns of nearly 83 percent in one year, and around 43.8 percent returns year-to-date.
As of March 2024, the shareholding pattern of Maruti Infra shows that the Promoters hold 52.31 percent in the company, while the retail investors hold a 47.69 percent stake in the company.
About the company:
Incorporated in 1994, Maruti Infrastructure Limited is engaged in the business of Infrastructure and Construction Projects mainly into affordable EWS Housing Projects and Urban Infra Projects.
Written by Shivani Singh
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