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Bonus issue record date: Shares of Mold-Tek Technologies Limited continued to rally for the third consecutive session on Wednesday after the announcement of bonus issue record date. The Hyderabad-headquartered company has announced issuance of bonus equity shares in the ratio of 1:1.
Mold-Tek Technologies share price surged nearly 3% during Wednesday’s intraday trading session. The stock has jumped nearly 4.47% in one week.
The board of directors of the engineering services provider had approved an issuance of bonus shares in the ratio of 1:1. Which means that the company would issue “one bonus equity share for every one existing fully paid-up equity share held by the eligible shareholders as on the record date, which will be announced subsequently.”
The company’s authorised equity share capital stood at ₹13,00,00,000 and the existing paid-up equity share capital stood at ₹5,76,10,236. After the proposed bonus share issuance in the ratio of 1:1, the paid-up equity share capital of the firm will increase to ₹11,52,20,472.
The company’s board of directors has fixed Friday, October 9 as the record date to determine the eligibility of shareholders for the corporate actions. Which means that investors must own the stock by Thursday, October 8 to qualify for the payout.
The stock was trading 1.77% higher at ₹206.50 per share on BSE with a market capitalisation of ₹594.83 crore at 3 pm on Wednesday. The stock touched an intraday high of ₹209.85 per share and an intraday low of ₹202.90 per share.
The stock has delivered 53% return in three months and 100% return in six months. The stock has delivered 14% return in one year, -12% in two years and 40% in three years.
The company has provided services across different industries and segments. It has also contributed to the development of one of the flagship electric vehicles of Elon Musk-EV maker Tesla Inc.
In 2019, Mold-Tek Technologies contributed to Tesla Model Y development, where it handled mechanical design and robotic simulation for fixtures like the floor, dash and rear panel.
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