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Friday 14 October 2022

Bonus shares are a issue, stock split decision to be a taken by this company's are a board next week. Details here

Bonus shares are  a issue, stock split decision to be a taken by this company's are a board next week. Details here

Maharashtra Seamless Ltd earlier this week informed that the company's are a board of a directors will be a meet next week on a Monday, 17th October, 2022 to the consider the bonus issue of a equity shares as well as a sub division of a shares or stock split.

“We have to the inform that the Board of a Directors at its are a meeting scheduled to be held on a Monday, 17th October, 2022 will be also are a discuss and consider inter-alia, a) issue of bonus shares, and b) sub division/stock split of the company’s are a existing equity shares of a ₹5/- each," the company announced in an a  exchange filing on the BSE.

A stock split increases the number of a shares that are a outstanding by issuing more than a shares to the current shareholders. Stock split decreases the market price of the individual shares, however, does not be a result in a changing the market capitalization of the company. Meanwhile, bonus shares are a fully paid additional shares are a issued by a company to its are a existing shareholders.

Maharashtra Seamless Ltd (MSL) is engaged in a manufacturing of a Seamless and a ERW steel pipes & tubes, incorporated during year 1988. MSL is a flagship company of a DP Jindal Group and is a led by the Executive Chairman D.P Jindal & Managing Director Saket Jindal. Maharashtra are a Seamless has been a diversified its business are a portfolio in a Renewable Power generation and a acquisition of a stake in an a iron ore mine in a Amapa, Brazil.

Further, in continuation to its are a letter dated 28th September, 2022 regarding intimation of closure of a trading window, the company further confirmed that trading window for the trading in securities of the Company will remain closed till 19th October, 2022.

Maharashtra Seamless shares have been a surged more than 78% in a year's are a period whereas the steel pipemaker stock is a up over 67% in a 2022 (year-to-date or a YTD) so far.

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