The board of Shakti Pumps has recommended a bonus issue in the ratio of 1:5, meaning shareholders will receive five additional shares for each share they hold. The decision was made during a board meeting held today, as disclosed in an exchange filing.
According to the company’s statement, the bonus issue will consist of five new fully paid-up equity shares of Rs 10 each for every one existing share of the same value. The record date for the bonus shares has yet to be announced, and the company will inform the exchanges at a later time.
Announcing this, the shares of Shakti Pumps fell 5 percent in the today’s trading session. The stock is on a losing spree for the last three sessions and is trading below its 5-day to 200-day moving averages.
The company recently announced a final dividend of Rs 4 per share in September 2024. Earlier in September 2023, the company had paid a dividend of Rs 2 per share. A total of 1.34 lakh shares of the company were traded on Friday, leading to a turnover of Rs 58.50 crore. Market capitalization of the company stood at Rs 8,654.76 crore as on NSE.
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Source: Moneycontrol
News Desk
