Hardwyn India Shares Surge Ahead of Bonus Issue and Stock Split

Hardwyn India, a leading manufacturer of architectural hardware and glass fittings, witnessed a bumper surge in its share price today ahead of its bonus issue and stock split. The company’s shares rose by 20% to reach a record high of INR 623.85 on the BSE before closing at INR 623.35. This comes after the shares closed at an upper circuit yesterday, following a 4.74% increase in the share price over three consecutive days.

Details of Bonus Issue and Stock Split

According to the company’s exchange filing, Hardwyn India will split its INR 10 face value shares into INR 1 face value shares. Additionally, the company will offer one equity share of INR 1 face value as a bonus to its shareholders for every three equity shares of INR 1 face value held. The record date for both actions has been fixed for June 5th.

Hardwyn India’s Impressive Performance

Hardwyn India is one of the largest producers of architectural hardware and glass fittings in the country. The company’s net profit increased by 125% to INR 3.73 crore in the March 2023 quarter compared to the previous year. However, its revenue declined by 11% to INR 29.88 crore during the same period. For the full financial year, the company’s profit surged by 165% to INR 9.03 crore.

Investors have been reaping the benefits of Hardwyn India’s impressive performance. The company’s shares were trading at INR 88 last year on April 13th. Today, the shares closed at INR 623.35, translating to a 608% increase in just 14 months. This year, the shares have risen by 84%, with a 71% increase since April.

In conclusion, Hardwyn India’s upcoming bonus issue and stock split have generated a lot of buzz among investors, leading to a significant surge in the company’s share price. With its strong financial performance and a promising outlook, Hardwyn India seems poised for continued success in the future.

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