Multibagger stock hit fresh 52-week-high as Board sets record date for 1:3 bonus share and 1:10 stock split, scrip up 17

For the purpose of 1:3 bonus shares and 1:10 stock split, the company said today in a stock exchange filing that “In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and vide resolution dated 02nd May, 2023 passed by the Board of Directors of the Company, notice is hereby given that the Company has fixed, Monday, 05th June 2023 as the “Record Date”, for the purpose of Sub-division of Equity Shares (all the Authorized, Issued, Subscribed and Paid-up Equity Shares of nominal value of Rs. 10/- (Rupees Ten Only) each shall stand sub-divided into 10 (Ten) Equity Shares of nominal value of Re. 1/-(One Rupee) each fully paid-up and ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 01 (One) Equity Shares of Re. 1/- each for every 03 (Three) existing Equity Share of Re. 1/- each, subject to the approval of Members which is being obtained by way of Postal Ballot through remote e-voting.”

During Q3FY23, the company recorded a net income of ₹34.73 Cr whereas its net expenses stood at ₹30.00 Cr. The company said its EBIT reached ₹4.73 Cr and net profit stood at ₹3.27 Cr during the December 2022 quarter. The EPS of Hardwyn India reached ₹2.13 during Q3FY23. The company is yet to declare its Q4FY23 results.

The shares of Hardwyn India hit a fresh 52-week-high of ₹373 during morning deals and closed today on the BSE at ₹365.60 apiece level, up by 0.47% from the previous close of ₹363.90. The stock touched a 52-week-low of ₹135.67 on (31/05/2022). After hitting a new 1-year high today, the stock was last seen trading 169.47% above the 1 year low. During Q4FY23, the company recorded a promoter shareholding of 43.77% and a public stake of 56.23.