Navkar Urban Structure Limited has been one of the well-performing companies in the stock market over the past year.
Now, it is making headlines due to its bonus share issuance and stock split. Notably, the company’s share price is currently below ₹20.
Bonus Shares and Stock Split Details
As per the company’s announcement to the exchange, shareholders will receive 3 bonus shares for every 2 shares held.
Additionally, the existing shares with a face value of ₹2 will be split into two parts. After this split, the new face value of each share will be reduced to ₹1.
The company has set March 21 as the record date for issuing bonus shares. This is not the first time Navkar Urban Structure Limited has gone through a stock split.
In 2022, the company had split its shares into five parts, bringing down the face value to ₹2 per share.
This is not the first time the company has split its shares. In 2022, Navkar Urban Structure Limited split its shares into 5 parts, bringing the face value down to ₹2 per share at that time.
Stock Market Performance
On Friday, the company’s share price closed at ₹16.20, dropping by nearly 4%. Despite this, the stock has delivered a 42% gain this year, while the Sensex index has declined by over 5% during the same period.
Over the past six months, the stock has risen by more than 10%, and compared to a year ago, it has surged by over 230%.
The company’s 52-week high stands at ₹21.39, while the 52-week low is ₹4.20. Navkar Urban Structure Limited currently holds a market capitalization of ₹363.56 crore.
