Shares of Bajaj Steel Industries Limited will attract attention next week. The company’s shares increased by over 4% last Thursday, closing at Rs 3,294.05.
On October 3, Bajaj Steel Industries announced a 3:1 bonus issue. This means that for every one share held, investors will receive three additional shares.
The record date for this bonus issue is set for November 12.
Performance Overview
In the past six months, shares of Bajaj Steel Industries Limited have provided significant returns to investors, rising by 153%.
The company plans to distribute bonus shares after Diwali.
Currently, the market capitalization of Bajaj Steel Industries is Rs 1,712.91 crore, with a return on equity (ROE) of 24.38 and a price-to-earnings (PE) ratio of 21.34.
Company Announcements
According to a regulatory filing from Bajaj Steel Industries Ltd dated October 29, 2024, the Bonus Share Allotment Committee has confirmed November 12, 2024, as the record date for the bonus shares.
This announcement follows a notice issued on October 3 and is subject to shareholder approval at the Extraordinary General Meeting (EGM) held on October 28, 2024.
Stock Performance Highlights
Bajaj Steel Industries shares have achieved a remarkable return of 211% over the past year. In 2024 alone, the shares have provided up to 190% return.
Over the last two years, the stock has surged by 250%, and in the past five years, it has increased by an astonishing 2,700%.