Bajaj Steel Industries has announced its first-ever bonus shares as the company’s stock prices have surged more than 100% in the past six months.
Let’s take a closer look at the details of this stock.
3 Bonus Shares for Every 1 Share
The company’s board has decided to issue 3 bonus shares for every 1 share to eligible investors.
This is the first time Bajaj Steel Industries is offering bonus shares. However, the company has not yet disclosed the record date for the bonus issue.
It has been stated that the bonus shares will be credited to eligible investors by or before December 2, 2024, once all formalities are completed. The record date is expected to be announced soon.
Ex-Dividend Trading and Market Performance
On August 28, Bajaj Steel Industries traded as an ex-dividend stock, after declaring a dividend of ₹3 per share.
The company had previously issued a ₹3 per share dividend in 2023 as well.
The company’s stock has performed exceptionally well. On Friday, Bajaj Steel Industries’ shares closed at ₹3,323.60 on the BSE.
Over the last month, the stock has risen by more than 57%, and in the last six months, it has delivered a 173% return. In the past year, the company’s stock price has surged by 206%.
The stock’s 52-week high is ₹3,499.75, while its 52-week low is ₹1,004.05. The company currently has a market capitalization of ₹1,728.27 crore.
