Bharat Gears bonus record date 2022: Shares of Auto components and equipment makers, Bharat Gears Limited (BGL), declined over eight per cent on Monday. Ahead of turning ex-bonus on Tuesday, September 27, shares of Bharat Gears, the company which claims to be India’s largest gear manufacturer, ended at Rs 209.10 per share on the BSE on Monday.
Bharat Gears bonus 2022
Bharat Gears, claimed to be India’s largest gear manufacturer, has announced a bonus in the ratio of 1:2, meaning an eligible shareholder will get one share against every two shares held in their demat account on cut-off date set by the company. As part of the corporate announcement, the company had issued 51,18,353 bonus equity shares.
Bharat Gears bonus record date 2022
The auto component manufacturer has fixed Bharat Gears bonus record date 2022 to determine eligibility of shareholders as September 28, a day after the stock starts trading ex-bonus.
“We wish to inform you that the members of the Company, in their Annual General Meeting held on Tuesday, September 20,2022, inter alia, considered and approved the issue of Bonus Shares to the members of the Company by way of capitalization of reserves in the ratio of 1:2 i.e. issue of 1 (One) Equity Share for every 2(Two) Equity Shares held by the members whose names appear in the Register of Members or as the beneficial owner(s). The record date being September 28,2022,” the company said in a regulatory filing on September 20.
Bharat Gears bonus shares expected date
A Bharat Gears shareholder, who is eligible for bonus shares, can expect equity shares to be credited/dispatched within 2 two months from the date of approval by the Board of Directors on August 24,2022. After bonus issuance, the company’s share capital is expected to be more than Rs 15.35 crore as compared to the pre-bonus share capital of over Rs 10.23 crore .
A multibagger stock
A multibagger stock in its own right, Bharat Gears shares have yielded an average return of 374% in the past two years as on September 26. Bharat Gears stock one year return stands at a healthy 52%. The counter, which rose 18% in the past one month, ended more than eight per cent lower to Rs 209.10 per share on Monday. The scrip traded on 52-week high value of Rs 258.95 earlier this month on September 16, while it touched 52-week low of Rs 120.65 in February 2022.
About Bharat Gears
Incorporated on 23rd December 1971, the company claims to be India’s largest gear manufacturer. The products includes bevel, straight bevel and transmission gears. BGL manufactures a wide range of hypoid/spiral gears, differential gears and shafts, complete automotive transmissions, gearbox sub-assemblies and differential assemblies. Apart from being the largest manufacturer of gears for OEM’s in India, BGL is a major exporter to countries around the world.
BGL’s customer list includes almost all major players in the automobile industry in the tractors, trucks and buses and utility vehicle segments like TML, JDEPL, Escorts, Carraro India, Mahindra & Mahindra, JCB and Hero Motors, Axle India, VST Tillers, TAFE, Ashok Leyland, Spicer India and Toyota Kirloskar.