Ddev Plastiks to Reward Shareholders with Bonus Shares. Stock to Trade Ex-Bonus
The shares of Ddev Plastiks Industries soared by 27.43% in past 5 trading sessions. The stock has delivered a return of 49% in just one month. In the past six months the stock has zoomed by 183% from ₹72 to ₹206 per share. Moreover, on a yearly basis the shares of Ddev Plastiks rocketed by 392% on the Sensex.
Ddev Plastiks Industries, a small-cap BSE stock, will trade ex-bonus next week. The company has announced a bonus issue of 1:10, meaning that for every 10 shares held, shareholders will receive 1 bonus share. The bonus shares will be issued on July 8, 2023, and the stock will start trading ex-bonus on July 7, 2023.
It can also be used to boost the stock price. In the case of Ddev Plastiks, the bonus issue is likely to be well-received by shareholders, as it will increase their holdings in the company without any additional cost.
The bonus issue is also a positive sign for the company’s financial health. It shows that the company is profitable and has enough cash to issue bonus shares. This could make the stock more attractive to investors, which could lead to an increase in the share price.
Here are some key details about the bonus issue:
Record date: June 30, 2023
Ex-bonus date: July 7, 2023
Bonus issue date: July 8, 2023
Bonus ratio: 1:10
Investors who are interested in buying Ddev Plastiks shares should be aware that the stock will trade ex-bonus next week. This means that they will not be eligible to receive the bonus shares. However, investors who are already holding Ddev Plastiks shares will receive the bonus shares on the bonus issue date.
In addition to the bonus issue, Ddev Plastiks has also been performing well financially. The company reported a profit of Rs. 100 crore in the last financial year, and its revenue grew by 15%. The Company has forayed into producing Halogen Free Flame Retardant (HFFR) compounds and production facilities of around 6,000 MTPA are expected to be commissioned by Q1FY24.
The company is a leading manufacturer of polymer compounds in India with a capacity of 2,39,000 MTPA. It has five manufacturing units with state-of-the art machinery, infrastructure, equipment, and R&D facilities. A variety of products are included in its portfolio, including peroxide compounds, footwear compounds, PVC compounds, filled compounds, master batches, and PE compounds. Now the product portfolio has expanded to Engineering Plastic, Compounds for White Goods, Automotive and Electrical Appliances.
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Updated: 24 Jun 2023, 10:45 PM IST
