The share prices of MM Forgings Ltd have increased by over 13 percent today. This surge occurred following the announcement of bonus shares.
The company’s intra-day high reached Rs 1276.90, marking a 52-week high. Let’s delve into the company’s performance in detail.
Upcoming Decision on May 29
MM Forgings Ltd has notified the stock markets that a decision regarding the payment of bonus shares and dividends will be made on May 29.
This announcement has contributed to today’s rise in the company’s shares. Additionally, the company will release information on quarterly results along with the dividend and bonus shares this Wednesday.
Bonus Shares After 6 Years
The last time MM Forgings Ltd issued bonus shares was six years ago, in 2018, when they provided a 1:1 share bonus.
Similarly, in 2008, the company also issued a 1:1 bonus. In recent years, the company paid a dividend of Rs 6 per share in both 2022 and 2023.
The first dividend of Rs 3 per share was given in 2014. Investors are now waiting to see the dividend amount the company will declare this time.
MM Forgings Ltd currently operates 10 plants with a total capacity of 1.1 lakh metric tonnes.
Impressive Returns Over the Last Year
According to data from Trendlyne, the company’s share prices have risen by over 49 percent in the past year.
In the last three months alone, the stock price has increased by more than 32 percent.
The company’s 52-week low is Rs 825 per share, and its current market capitalization stands at Rs 3047.29 crore.
