M M Forgings jumps after setting record date

M M Forgings surged 7.75% to Rs 1,200.95 at 14:35 IST on BSE after the company announced that it has fixed 19 July 2018 as the record date for issuing 1:1 bonus shares.

The announcement was made during market hours today, 7 June 2018.

Meanwhile, the S&P BSE Sensex was up 372.01 points or 1.06% at 35,550.89.

On BSE, so far 1,207 shares were traded in the counter as against an average daily volume of 1,751 shares over the past two weeks. The stock hit a high of Rs 1,201.05 and low of Rs 1,106.05 so far during the day. The stock had hit a record high of Rs 1,292.30 on 29 May 2018. The stock had hit a 52-week low of Rs 547 on 11 August 2017.

The small-cap company has equity capital of Rs 12.07 crore. Face value per share is Rs 10.

On 28 May 2018, M M Forgings had announced issue of bonus shares in the ratio of 1:1 i.e. 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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