This stock is offering bonus shares to its shareholders and its ex date is closer than ever! The company has also announced a 60% dividend for each share and its ex date has been decided as well.
The shares of GNA Axles opened at Rs. 968 on Thursday where it rose by another percent reaching close to its 52- week high.
GNA Axles, a company manufacturing auto components, issued 1:1 bonus shares to its shareholders last friday. Under bonus shares, a shareholder is eligible to receive Rs. 10 per each share on each share of Rs. 10 which they own. The ex date for the bonus shares is 1st September. An ex- date for bonus shares is the last date for any investor to buy that stock. The record date has been finalised as 2nd September.
A dividend of Rs. 6 per share which is 60% of the face value Rs. 10 has been declared along with its ex date. Investors can buy GNA Axles before/on 1st September to receive both the bonus shares and dividend.
The company has a market capitalization of Rs. 2,090.5 crore. Its net revenue has declined from Rs. 375 crore in Q1FY22 to Rs. 374 crore in Q1FY23 which is a decrease of 0.013% YoY. The net profit for Q1FY22 was Rs. 27 crore which increased by almost 23%
Earning per share for this stock has grown by 57.90% YoY from 41.35 in Q1FY22 to 63.50 in the June Quarter. The promoters of the company hold 68.13% stake in the company in which 4.79% shares are pledged whereas the general public owns up to 31.86%
The company offers a wide range of parts required for light, medium and heavy commercial vehicles. The demand for high- value added components has surged in the market. It manufactures all kinds of shafts and spindles for vehicles including buses.
Written by Bhumika Khandelwal
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