NSEMM Forgings Ltd., the manufacturer of closed die hot forgings, will hold a board meeting on Wednesday, May 29 to consider a bonus issue of shares, along with its March quarter results.This will be the first time in six years that the company will be issuing bonus shares to shareholders.
It had last issued bonus shares back in 2018, when it issued one free share for every one held.
Earlier, it had issued another 1:1 bonus back in 2008.Along with the bonus issue, the company will also consider the proposal of paying dividend to shareholders.
It positions itself as a one-stop shop for closed die forgings in both domestic and international markets.The company currently has 10 plants with a 1.1 lakh metric tonnes in capacity.Shares of MM Forgings ended a percent lower on Friday and have gained 15.5% so far in 2024.
Over the last 12 months, the stock has risen 33%, while it has doubled over a five-year period.
NSE
MM Forgings Ltd., the manufacturer of closed die hot forgings, will hold a board meeting on Wednesday, May 29 to consider a bonus issue of shares, along with its March quarter results.This will be the first time in six years that the company will be issuing bonus shares to shareholders. It had last issued bonus shares back in 2018, when it issued one free share for every one held. Earlier, it had issued another 1:1 bonus back in 2008.Along with the bonus issue, the company will also consider the proposal of paying dividend to shareholders. The highest dividend that the company has paid to shareholders is during the last two years, when it paid ₹6 per share each in 2022 and 2023.According to its website, MM Forgings is one of the largest exporter of forgings in India in its product range. It positions itself as a one-stop shop for closed die forgings in both domestic and international markets.The company currently has 10 plants with a 1.1 lakh metric tonnes in capacity.Shares of MM Forgings ended a percent lower on Friday and have gained 15.5% so far in 2024. Over the last 12 months, the stock has risen 33%, while it has doubled over a five-year period.
