Plastiblends India advances after fixing record date for bonus shares

Plastiblends India rose 3.15% to Rs 523 at 12:08 IST on BSE after the company said it has fixed 4 July 2017 as record date for issue of bonus shares.

The announcement was made after market hours yesterday, 14 June 2017.

Meanwhile, the S&P BSE Sensex was down 24.15 points, or 0.08% at 31,131.76. The S&P BSE Small-Cap index was up 78.86 points, or 0.51% at 15,667.54.

On the BSE, 1,138 shares were traded on the counter so far as against the average daily volumes of 1,365 shares in the past two weeks. The stock had hit a high of Rs 529 and a low of Rs 513 so far during the day. The stock had hit a record high of Rs 579 on 3 November 2016 and a 52-week low of Rs 399 on 27 March 2017.

 

The stock had underperformed the market over the past one month till 14 June 2017, declining 4% compared with the Sensex's 3.21% rise. The scrip had, however, outperformed the market over the past one quarter advancing 8.88% as against the Sensex's 5.82% rise. The scrip had also outperformed the market over the past one year advancing 18.96% as against the Sensex's 18.03% rise.

The small-cap company has equity capital of Rs 6.50 crore. Face value per share is Rs 5.

Plastiblends India announced that the company has fixed Tuesday, 4 July 2017 as the record date to eligible shareholders for issuance of bonus equity shares in the ratio 1:1 i.e. one bonus share for every one held.

Plastiblends India's net profit fell 4.2% to Rs 9.02 crore on 6.6% increase in net sales to Rs 155.43 crore in Q4 March 2017 over Q4 March 2016.

Plastiblends India is engaged in the manufacturing of masterbatches.

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