Multibagger steel stock will be in focus tomorrow as Board is likely to announce bonus shares on October 03
The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 1,004.05 per share and a whopping 1,900 per cent in 5 years.
Bajaj Steel Industries Ltd informed that the meeting of the Board of Directors of the company is scheduled to be held on Thursday, October 03, 2024, to inter-alia consider the proposal for the issuance of bonus shares to the shareholders of the company.
Bajaj Steel Industries Ltd., founded in 1961, is a prominent manufacturer of cotton ginning and pressing machinery, prefabricated building structures and related products. The company is ISO 9001:2008 and ISO/TS 16949 certified, offering a comprehensive range of machinery for all cotton ginning and pressing technologies. Its product portfolio also includes general engineering fabrication, machining, intelligent electrical panel manufacturing and other engineering services.
Bajaj Steel Industries Ltd operates through various divisions, each specializing in different product lines. The ginning machinery division manufactures and supplies equipment for cotton ginning and processing. The Continental Eagle Corporation (CEC) division focuses on products based on CEC, USA designs, including saw gins, rotobar, delinting and decorticating equipment. The infrastructure division designs and fabricates pre-engineered buildings and structures. The electrical division manufactures electrical panels and accessories. The heavy engineering division produces heavy equipment and structural fabrication. The firefighting division designs and installs firefighting systems. Additionally, the company manufactures other products like speciality conveyors, office furniture and steel doors.
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The company has a market cap of over Rs 1,311.47 crore with a PE of 20x, an ROE of 20 per cent and an ROCE of 24 per cent. On Friday, shares of Bajaj Steel Industries Ltd gained 0.31 per cent to Rs 2,522. 05 per share with an intraday high of Rs 2,562 and an intraday low of Rs 2,509. The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 1,004.05 per share and a whopping 1,900 per cent in 5 years. Investors should keep an eye on this stock in the upcoming trading sessions.
Disclaimer: The article is for informational purposes only and not investment advice.