Hardwyn India shares: The share price got adjusted for corporate actions in Monday's trade, with the stock trading at a adjusted price of Rs 51.40 per share on BSE, up 10 per cent.
Hardwyn India shares: The share price got adjusted for corporate actions in Monday's trade, with the stock trading at a adjusted price of Rs 51.40 per share on BSE, up 10 per cent.Shares of Hardwyn India turn ex-bonus and ex-split in Monday's trade, extending their recent winning run.
Hardwyn India shares had closed at Rs 623.35 on Friday. The share price got adjusted for corporate actions in Monday's trade, with the stock trading at a adjusted price of Rs 51.40 per share on BSE, up 10 per cent over its adjusted price for Friday at Rs 46.75. The unadjusted price for Friday stood at Rs 623.35.
Hardwyn India shares turned ex-bonus in the 1:3 ratio. It means if an eligible investor has 1 share as of record date, which is today, he would be entitled to two new shares. Total holding of share would now be three instead of one. Here new shares are issued at existing face value.
What a bonus does is increase number of shares outstanding. It decreases earnings per share, reduce share price in proportion to number of bonus shares issued, reduce free reserve & surplus, but increase liquidity on the counter.
Shares of Hardwyn India, meanwhile, also turned ex-date for stock split today from face value of Rs 10 per share to face value of Re 1 per share. A stock split improves liquidity on the counter.
Earlier in June 2022, Hardwyn India had announced bonus issue in the 1:2 ratio.
Hardwyn India is a manufacturers of architectural hardware and glass fittings. It offers solutions for both residential and commercial structures. The company’s products include door hardware, kitchen hardware, glass hardware and furniture hardware.
The company recently reported a 125 per cent rise on a year-on-year (YoY) in the net profit at Rs 3.74 crore for the March quarter. This was against a profit stood of Rs 1.66 crore in the same quarter last year. However, revenue from operations fell 11 per cent to Rs 29.88 crore in the March quarter against Rs 33.15 crore in the corresponding quarter last year.
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