Penny stock under Rs 20: Don't miss out on this company's announcement of bonus shares and dividend!

Today, the shares of the company saw a spurt in volume by more than 13.44 times on BSE.

The domestic benchmark indices finished the day in the red on Monday. The BSE Sensex Index is down 0.57 per cent at 57,906.26. In the broader market, indices were trading lower, with the BSE Mid-Cap index falling 0.45 per cent and the BSE Small-Cap index falling 0.50 per cent, respectively.  

Despite being a weak market on the second straight day, shares of SRU Steels surged 5 per cent upper circuit to Rs 18.63 per share being one of the Top Gainers on BSE.  

 The stock has hit back-to-back upper circuits in recent trading stocks because this small-cap company announced bonus shares in the ratio 1:2 and a dividend of Rs 0.10 per share to its shares holders as of the record date. The company confirmed the dividend record date as Monday, March 20, 2023 and the bonus shares record date has not been declared, as of now.  

SRU Steels Limited trades and wholesales steel and iron products. The company focuses on trading in various types of steel products, as well as the sale of steel products for infrastructure and housing projects. Today, the shares of the company saw a spurt in volume by more than 13.44 times on BSE.

The financials of the company were excellent in Quarterly Results and annual results. In Q3FY23, net sales rose by 13 per cent and net profit skyrocketed 900 per cent compared to Q3FY22. In the last five trading sessions, the stock has gained 16.44 per cent.  

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