Munjal Auto recommends 1:1 bonus issue

Munjal Auto Industries Limited on Monday reported a net profit at Rs 9.10 crore for the quarter ended March 31, 2017, as against Rs 6.36 crore for the same quarter in the previous fiscal.

May 23, 2017 09:05 IST India Infoline News Service

Munjal Auto Industries Limited on Monday reported a net profit at Rs 9.10 crore for the quarter ended March 31, 2017, as against Rs 6.36 crore for the same quarter in the previous fiscal.
 
The company informed that the board of directors have recommended a final dividend at 100% viz. Rs.2 per equity share on face value of Rs.2 each for the financial year 2016-17.
 
Th board also recommended issue of bonus shares in the ratio of 1:1 i.e. one equity share of Rs.2 each for each fully paid up equity share, subject to the approval of members of the company, as per BSE filing.
 
Meanwhile, Munjal Auto is up by 3% at Rs 110 per share at 09:26 hours IST on BSE.
 
Munjal Auto Industries Limited offers exhaust system or mufflers for two-wheelers. It is engaged in the manufacture of wheels, rims, fuel tanks and other components for auto industries.
 
Stock View:

Munjal Auto Industries Ltd is currently trading at Rs 111.2, up by Rs 4.4 or 4.12% from its previous closing of Rs 106.8 on the BSE.
 
The scrip opened at Rs 111 and has touched a high and low of Rs 113 and Rs 109.25 respectively. So far 230782(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 534 crore.
 
The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 117.8 on 27-Oct-2016 and a 52 week low of Rs 76 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 111 and Rs 104.3 respectively.
 
The promoters holding in the company stood at 74.81 % while Institutions and Non-Institutions held 0.13 % and 25.06 % respectively.
 
The stock is currently trading above its 50 DMA.

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