December 30, 2024
New Delhi, India
Kothari Products Shares
The board of Kothari Products has announced a 1:1 bonus share issue, sparking a 7.4% rise in the company’s stock price, which reached ₹209.70 on the BSE today. The announcement was made during the company’s board meeting, subject to shareholder approval through a postal ballot.
In its regulatory filing, the company confirmed that eligible shareholders will receive the bonus shares by March 12, 2025. However, the record date for eligibility has yet to be disclosed. The bonus issue will be financed through the company’s free reserves, with ₹29.84 crore allocated for the purpose. Following this, the company’s authorized share capital will increase from ₹31.50 crore to ₹61.50 crore.
About Kothari Products
Kothari Products is engaged in the international trading of diverse products, including:
- Coal
- Agro-based commodities
- Edible oil
- Steel
- Polyvinyl chloride (PVC)
- Metals
- Transformers
- Storage devices
Additionally, the company, along with its subsidiaries, is involved in real estate development and leasing activities.
Performance Highlights
- Kothari Products’ stock has surged 58.55% in the past year.
- The stock has gained 57.2% year-to-date in 2024.
The bonus share issue underscores the company’s confidence in its financial position and ongoing growth trajectory. Stay tuned for further updates regarding the record date and shareholder approvals.
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