Precision Wires gains on fixing record date for bonus issue

23 Nov 2022 , 12:22 PM

On 10 November 2022, the companys board approved a proposal to issue 1 bonus equity share for every 2 equity shares held by the shareholders of the company. The bonus issue is subject to the approval of shareholders which is being obtained by way of postal ballot through remote e-voting. The result of postal ballot will be declared on Wednesday, 14 December 2022. Precision Wires India is engaged in manufacturing of enamelled round and rectangular copper winding wires, continuously transposed conductor(CTC) and paper/mica/nomex insulated copper conductor(PICC) which are used by the electrical/electronics industries. The companys net profit declined 2.07% to Rs 14.66 crore, despite 2.08% rise in revenue from operations to Rs 721.31 crore in Q2 FY23 over Q2 FY22. Powered by Capital Market – Live News