Don't miss action in this stock that has announced bonus shares!

Don't miss action in this stock that has announced bonus shares!

Kiran Shroff
/ Categories: Trending, Mindshare

Maharashtra Seamless Limited (MSL) is trading at a PE multiple of 12.66 and an ROE of 11.88, all of which point to strong managerial performance.

On Monday, shares of Maharashtra Seamless Ltd closed at Rs 795 with a loss of 0.88 percent. The corporation verified that the record date for the issuance of bonus shares is November 24, 2022, and that bonus shares will be issued to equity shareholders in a ratio of 1:1. 

  

Maharashtra Seamless Limited (MSL), incorporated in 1988, is a Mid Cap company having a market cap of Rs 5,331 crore. It is engaged in the business of manufacturing steel pipes and tubes. It is also engaged in power generation. MSL Company is a part of Rs.3000 crore D.P. Jindal Group. 

  

The company’s quarterly consolidated financial results reveal that the net sales for Q2FY23 increased 48.7 per cent compared to the same quarter last year. Operating profit for Q2FY23 increased to 80 per cent when compared to Q2FY22. The net profit soared to Rs 177 crore or 86.3 per cent in Q2FY23, contrasted to Rs 95 crore in Q2FY22. According to annual consolidated financial figures, the net sales for Q2FY23 increased 82 per cent compared to the same quarter last year. Operating profit for Q2FY23 increased to 32.2 per cent when compared to Q2FY22. In comparison to Q2FY22, when the net profit was only Rs 121 crore, it dramatically increased to Rs 404 crore or 234 per cent, in Q2FY23. 

  

Currently, Maharashtra Seamless Limited (MSL) is trading at a PE multiple of 12.66 and a ROE of 11.08, all of which point to strong managerial performance. The company’s 52-week high is Rs 910 and its 52-week low is Rs 450. A recent bonus issue was announced at a ratio of 1:1, which meant that as of the record date, shareholders had one share of share capital for each share. 

  

Investors must keep an eye on this stock. 

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