Bajaj Steel Industries Ltd, a company known for delivering strong returns in the stock market over the past year, has announced a bonus share issue.
The record date for this bonus issue has also been set, with November 12 confirmed as the cutoff date for eligible investors.
Investors will receive 3 bonus shares for every 1 share they own on this record date, marking the first time Bajaj Steel Industries is issuing bonus shares to its shareholders, according to BSE data.
Impressive Share Price Growth Over Six Months
In just six months, Bajaj Steel Industries’ share price has surged by 68%, and, according to Trendlyne’s data, investors’ holdings have effectively doubled with an overall price increase of 128% in this period.
For those holding the stock over the past year, the return has reached an impressive 176%.
Today, the company’s shares closed at Rs 2,939.65 on the BSE, having touched a high of Rs 2,973.70 during the day. The 52-week range for the stock is between a high of Rs 3,499.75 and a low of Rs 1,018.
Consistent Dividend Payouts
Bajaj Steel Industries has a record of providing dividends to investors. The company last traded as ex-dividend in August when it issued a dividend of Rs 3 per share.
Additionally, in 2023, it distributed another dividend of Rs 3 per share to qualifying shareholders.
