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Indian Metals board OKs 1:1 bonus issue

Capital Market 

Indian Metals & Ferro Alloys said that its board has approved issue of bonus equity shares in the ratio of one new equity bonus share for every one existing equity share of the company held by the shareholders as on the record date.

The company has fixed Monday, 10 January 2022 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of above bonus equity shares.

Indian Metals & Ferro Alloys primarily produces ferro alloys, including charge chrome (high carbon ferro chrome), and has an installed furnace capacity of 190 MVA (284,000 MTPA) in its two plant sites at Therubali and Choudwar, in Odisha.

The company's consolidated net profit soared 228.6% to Rs 143.71 crore on a 49.3% surge in net sales to Rs 653.16 crore in Q2 FY22 over Q2 FY21.

The scrip rose 0.86% to currently trade at Rs 794 on the BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, November 26 2021. 11:45 IST