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

The shares of this company are trading at a PE multiple of 17.60 and an ROE of 17.55, all of which point to strong managerial performance.

On Friday, shares of Precision Wires India Ltd (PWIL) are trading at Rs 105.05 with a gain of 0.91 per cent. The corporation verified that the record date for the issuance of bonus shares is December 22, 2022, and that bonus shares will be issued to equity shareholders in a ratio of 1:2.   

Precision Wires India Limited (PWIL) is the largest manufacturer of enameled copper winding wires in India. Their products include round wire, rectangular wire, continuously transposed cables and paper-insulated copper conductors. These are widely used by the electrical and electronics industry across the globe.  

The company’s quarterly consolidated financial results reveal that the net profit soared to Rs 4.96 crore or 161.54 per cent in Q2FY23, contrasted to Rs 1.90 crore in Q2FY22. According to annual financial figures, in comparison to FY22, when the net profit was only Rs 39.31 crore, it dramatically increased to Rs 63.01 crore or 60.29 per cent, in FY23.   

Currently, PWIL is trading at a PE multiple of 17.60 and an ROE of 17.55, all of which point to strong managerial performance. The company’s 52-week high is Rs 107 and its 52-week low is Rs 104.25. A recent bonus issue was announced at a ratio of 1:2, which meant that as of the record date, existing shareholders will receive one bonus share for every two shares held. 

Investors must keep an eye on this stock.