Indian Metals share price gains 3% on bonus share approval

Indian Metals share price gains 3% on bonus share approval

Indian Metals & Ferro Alloys share price was up 3 percent intraday at RS 814.10 intraday on November 26 after the company's board approved a bonus share issue.

The board of directors of Indian Metals & Ferro Alloys at their meeting held on November 26, 2021, approved the issue of bonus equity shares in the ratio of one new equity bonus share of RS 10 each for every one existing shares of RS 10 each held by the shareholders on the record date, subject to shareholders' apporval.

The company has fixed January 10, 2022 as the record date for ascertaining the eligibility of shareholders entitled to bonus shares.

Also Read : Ratnamani Metals share gains 4% on bags of Rs 98 crore order

The board also approved an increase in the authorized share capital of the company from RS 38,75,00,000 to RS  63,50,00,000.

At 11.57 am, Indian Metals & Ferro Alloys was quoting at RS 796.55, up RS 9.30, or 1.18 percent, on the BSE.

The share touched a 52-week high of RS 997 on August 2, 2021 and a 52-week low of RS 253.85 on December 22, 2020. It is trading 20.11 percent below its 52-week high and 213.79 percent above its 52-week low.

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