Sirca Paints shares rose 12% intraday as stock turned ex-bonus today

Shares of Sirca Paints surged up to 12% today after the stock of wall paint and wood coatings manufacturer turned ex-bonus in the ratio of 1:1 today. Sirca Paints shares rose up to 12.03% to Rs 345 today against the previous close of Rs 307.95 on BSE. Later, the stock ended 9.63% higher at Rs 337.60 on BSE. The stock has gained 11.71 per cent in a month and gained 0.52 per cent in 2023. Total 0.55 lakh shares of the firm changed hands amounting to a turnover of Rs 1.84 crore. Market cap of the firm rose to Rs 1850.35 crore on BSE.  

The stock rose to a 52-week high of Rs 400 on December 14, 2022 and fell to a 52-week low of Rs 287.83 on April 25, 2023.   

In terms of technicals, the relative strength index (RSI) of the Sirca Paints stock stands at 52.6, signaling it's trading neither in the overbought nor in oversold zone. Sirca Paints shares have a beta of 1, indicating average volatility in a year. Sirca Paints shares are trading lower than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages. 

The board of the firm recommended the issue of Bonus Shares on March 29 this year in the ratio of 1:1 i.e. 1 (One) bonus equity share of Rs 10/- each for every 1 (one) fully paid-up equity share of Rs. 10/- each held by the members of the company as on the record date, subject to approval of the members of the company.  

The board fixed May 11, 2023 as record date for reckoning eligible shareholders entitled to receive bonus shares.  Meanwhile, the company on May 8 said it would hold a meeting of the Board of Directors on Tuesday, May 16, 2023 to consider recommendation of final dividend if any and announce Q4 and fiscal earnings for the financial year ended March 31, 2023. 

Sirca Paints is a leading wood coatings and wall paint manufacturer that offers a superior selection of Italian wood coatings and wood finishes.