M M Forgings rose 2.35% to Rs 1,427 at 14:43 IST on BSE after the company said its shareholders approved the proposed bonus issue of shares at the annual general meeting on 11 July 2018.
The announcement was made after market hours yesterday, 11 July 2018.Meanwhile, the S&P BSE Sensex was up 342.90 points, or 0.95% to 36,608.83.
On the BSE, 3162 shares were traded in the counter so far compared with average daily volumes of 564 shares in the past two weeks. The stock had hit a high of Rs 1,472.95 and a low of Rs 1,412.05 so far during the day. The stock hit a record high of Rs 1,486.80 on 18 June 2018. The stock hit a 52-week low of Rs 547 on 11 August 2017.
The company will issue one bonus share for every one share held.
M M Forgings' net profit surged 114.67% to Rs 27.37 crore on 71.04% growth in net sales to Rs 197.65 crore in Q4 March 2018 over Q4 March 2017.
M M Forgings makes and exports closed die forgings.
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