From Rs. 445 per share on August 12 to Rs. 843.35 per share today, the share price of Forbes & Company has increased by about 90% in the past week. The counter reached a fresh record high on Friday while being trapped at an upper circuit of 10%.
The business last week announced a special interim dividend of Rs 65 and set the record date for the same as August 25, 2022, which caused the shares to increase.
“The Board of Directors of the Company at their meeting held on August 13, 2022, has approved payment of special interim dividend of Rs. 65 per equity share (650%) and has fixed Thursday, August 25, 2022 as the ‘Record Date’ for the purpose of ascertaining the shareholders who shall be eligible for receipt of special interim dividend,” Forbes & Company said in an exchange filing.
The business, which was formerly known as Forbes Gokak Ltd., is a member of the Shapoorji Pallonji Group and manages a diverse portfolio of operations. Engineering, real estate, and the business of creating payment processing and transaction automation solutions are its three core focuses.
In comparison to the Sensex’s gains of over 3 and 7.5% in the last six months and a year, Forbes & Company’s shares have increased more than 115 and 110 percent.
The proposal to form a joint venture with Macsa ID to offer cutting-edge laser marking and traceability solutions for the complete range of materials, including metals and non-metals, was authorised by the company’s board of directors earlier this month, according to a filing by Forbes & Company.
According to the petition, a joint venture business with equal involvement from both parties is planned.
