Double Dhamaka! 1:2 Bonus Shares & 5:1 Stock Split Announced: Multibagger Civil Construction Stock Hit Upper Circuit; Know the Record Date Inside!
The shares saw a spurt in volume by more than 4 times on BSE.
On Wednesday, shares of Maruti Infrastructure Ltd were locked in a 5 per cent upper circuit to Rs 237.05 per share from its previous closing of Rs 225.80. The shares saw a spurt in volume by more than 4 times on BSE.
The company intends to subdivide its existing shares and issue bonus shares. Shareholders will be entitled to receive a stock split, where they'll get 5 equity shares of face value Rs 2 each for every existing fully paid equity share of Rs10 each they hold. This subdivision is subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM) scheduled for November 31, 2024. Additionally, shareholders will also receive bonus shares in the ratio of 1:2, meaning 1 bonus share of Re 1 each for every 2 existing fully paid equity shares they hold. This issuance of bonus shares is also subject to shareholder approval at the same EGM scheduled for September 29th, 2024. The Board fixed the record date for bonus shares and stock split as Friday, August 09, 2024.
Maruti Infrastructure Ltd, established in 1994, is a Gujarat-based company specializing in construction and real estate development. They focus on both Economically Weaker Section (EWS) housing projects and urban infrastructure projects within Ahmedabad. Their services include professional construction and property management for civil, residential, and commercial projects.
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They hold memberships in various professional associations like GIHED (Gujarat Institute of Housing and Estate Developers) and have registrations with government bodies like R&B Division (Gujarat State) and Ahmedabad Municipal Corporation as approved A-Class contractors. Their portfolio includes diverse projects ranging from civil works for data centres and office buildings to bridge reconstructions and road constructions for both private and government clients.
The company had a market cap of Rs 296.31 crore. The stock gave multibagger returns of 137 per cent from its 52-week low of Rs 100.05 per share; 500 per cent in 3 years and a whopping 1,050 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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