This micro-cap stock jumps over 1.5% after the company fixed the record date for the bonus issue in the ratio of 1:2. The stock is trading at 3.4% and 78% above the 50-day and 200-day moving averages, respectively.
RMC Switchgears Ltd
RMC Switchgears the company has a market capitalization of Rs. 498.92, making it a micro-cap company. On Wednesday stock rose more than 1.5%, at 12:20 p.m., the company shares were trading 1.7% down at Rs. 734.95 on BSE.
According to the exchange filing, RMC Switchergears Ltd has fixed Friday, 13th October, 2023 as the Record date for the purpose of ascertaining the eligibility of shareholders entitled to the issue of bonus equity shares of the company in the ratio of 1:2. Which means, for every two shares owned by investors, the company would issue one bonus share.
The stock has delivered 176% and 495% returns in six months and one year respectively. Therefore making an investment of of 1 lakh six months ago now would be worth Rs. 2.76 Cr and making the same amount of investment one year ago now would be worth Rs. 5.95 lakhs.
As per the company filing, revenues of the company grew by 200% from Rs. 41.56 Cr in FY22 to Rs. 125.27 Cr in FY23 and the company reported a net profit of Rs. 11.74 Cr in FY23 against a profit of Rs. 0.58 Cr in FY22.
As per the latest shareholding data, Promoters hold 52.93% and 47.07% stake in the company.
RMC Switchgears Limited is a company that designs and manufactures switchgear. The company offers Meter and distribution boxes, fencing, solar panels, and sheet moulding compounds. Under the Lamina brand, the company also manufactures and distributes designer PVC sheets in various marble and wooden finishes.
Written by Sheshadri N
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