Bonus Share News: The board of directors of Sandur Manganese and Iron Ores approved the issuing of 13.50 crore equity shares as bonus shares, each having a face value of Rs. 10/-, the business said in the exchange filing.
In-Principle Approval for Bonus Shares
“We wish to inform you that the Company has received In-principle Approval for issue and proposed allotment of 13,50,29,115 Equity Shares of Rs.10/- each as Bonus Shares in the ratio of 5:1 i.e., 5 (Five) new fully paid-up Equity Shares of Rs 10/- each for every 1 (One) existing fully paid-up Equity Share of Rs10/- each held in the Company, on 23 January 2024,” said the company in a regulatory filing on the BSE.
Positive Market Momentum
The company’s shares have been moving higher since the announcement. The company’s shares closed at Rs 3,201.30 on Thursday, up 3.32% from its previous closing of Rs 3,098.50. The stock entered the day on the BSE with a gap at Rs 3,149. The NSE started Sandur Manganese & Iron Ores’s stock gap at Rs 3,149. It closed at Rs 3,202.85 on Thursday, up 3.39 percent from its previous closing of Rs 3,097.70.
Robust Market Capitalization
As of January 26, 2024, Sandur Manganese & Iron Ores Ltd. had a market capitalization of Rs 8,645.37 crore on the BSE. The company works in the coal industry and is a subsidiary of S&P BSE SmallCap. The share price of Sandur Manganese & Iron Ores has increased dramatically during the past week (18.43 percent), month (23.80 percent), three months (112.70 percent), six months (150.27%), and year (258.75 percent), according to BSE Analytics.
Investors were drawn to the company’s shares because of its impressive returns, which included 309.71 percent in the previous two years, 770.96 percent in the previous three, and an astounding 1007.95 percent in the previous five years.
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