Bajaj Steel Industries’ shares surged to a fresh 52-week high on September 30, with the company’s board set to discuss a potential bonus share issue. The stock opened with an 11.02% gain on Monday and hit a peak of ₹2,978 on the BSE, marking an 18.08% increase during the session.
Board Meeting for Bonus Shares
The company announced in a stock exchange filing that its board meeting is scheduled for October 3, 2024, to discuss a proposal for issuing bonus shares to shareholders. This news has contributed to the stock’s significant rise in recent days.
Stock Performance
- Gains Over Two Days: The stock has seen a rise of 11.94% over the last two trading days.
- Market Cap: The company’s market cap stands at ₹1,472.12 crore, according to BSE data.
- 180-Day Performance: Bajaj Steel shares have delivered a return of 147.47% over the past 180 days.
- Three-Year Returns: The stock has surged by 206% in the last three years.
Bajaj Steel’s recent upward movement signals investor optimism as the board prepares to deliberate on the bonus share proposal.
As of 11:45 am the shares were trading 14% higher at ₹2,875.00 on NSE.
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