Bonus Share: Net and rope manufacturer and supplier Garware Technical Fibers It is going to give bonus shares to its shareholders after 30 years. The record date for this is January 3, 2025. Shareholders whose names appear in the records of the Register of Members of the Company or the Depositories as beneficial owners of shares as on this date will be entitled to receive the bonus shares.
The bonus shares will be issued in the ratio of 4:1. This means that shareholders will get 4 new shares as bonus for every 1 share they hold. A total of 7,94,12,676 shares of face value Rs 10 will be issued in the bonus issue. The bonus share was announced on 14 November 2024. Earlier, the company had announced bonus shares in the ratio of 1:1 on 9 August 1994 and the shares traded ex-bonus on 26 August 1994. Bonus shares in the ratio of 1:1 were also announced in July 1988.
Garware Technical Fibers shares rose 40 percent in one year
Shares of Garware Technical Fibers closed at Rs 4662.05 on BSE on Friday, December 27. The market cap of the company is Rs 9200 crore. The stock has risen nearly 40 percent in a year. It has strengthened by 8 percent in a week. The promoters held 53 percent stake in the company till the end of September 2024.
Products sold in more than 75 countries
The company was started in 1976. Garware Technical Fibers is a big name in the technical textile sector. It specializes in providing customized solutions to its customers across the globe. Globally, the company is known for its applied innovations in the fields of sports, fisheries, aquaculture, shipping, agriculture, coated fabrics and geo-synthetics. The company’s products are manufactured in Wai and Pune in Maharashtra and are sold in more than 75 countries.
Multibagger Stock: ₹1 lakh made ₹2900000 in 5 years, now the company will raise ₹134 crore
The company’s consolidated net profit for the July-September 2024 quarter increased by 25.7 percent year-on-year to Rs 65.96 crore. Total sales increased by 28.1 percent to Rs 420.59 crore.
Disclaimer: The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. Moneycontrol never advises anyone to invest money here.