Stock market Today: Hardwyn India share price declined up to 6.5% in the intraday trades on Friday as the Stock trades ex-date for issuance of 2:5 bonus shares
Hardwyn, the furniture and home furnishing maker, as per its intimation on the exchanges dated 19 December had fixed record date for the issue of bonus share as 27 December. The company is issuing 5 shares of facevalue of ₹1 each for every 2 shares held.
The record date means that taking into consideration the T+1 settlement mechanism, investors needed to buy shares of Hardwyn India a day prior to the record date for their names to appear in the list of eligible shareholders for receiving the bonus shares
The Hardwyn India Share price thereby corrected on Friday. The Hardwyn India share that opened at ₹21.44 a share, slightly higher than previous closing price of ₹21.20. However Hardwyn India share price slipped to lows of ₹19.80 marking decline of 6.5% as stock traded ex-bonus today
smallcap company that trades below ₹30.
Hardwyn India is a smallcap company that trades below ₹30. Hardwyn’s power-pack 2 bonusses and 1:10 stock split between 2022 and 2023 are followed by this next bonus. Long-term, Hardwyn’s stock has soared by a staggering 2000% plus in just five years, despite a considerable consolidation seen recently.
The earlier Bonus issues by smallcap Hardwyn India were on 05 June 2023 in the ratio of 1:3 and on 25 July 2022 in the rati of 1:2
Hardwyn India on 18 December in its Annual General Meeting already had got approval for increasing Authorised Share Capital tto accommodate the issuance of Bonus Shares (2:5 bonus issue). The Authorised share capital of the Company from Rs. 35,10,00,000/- (Rupees Thirty-Five Crores Ten lakh only) consisting of 35,10,00,000 (Thirty-Five Crores Ten lakh only) Equity Shares having face value of Rs. 1/- (One only) to Rs.50,00,00,000/- (Rupees Fifty Crores only) consisting of 50,00,00,000/- (Fifty Crores only) Equity Shares having face value of Rs. 1/- (One only)
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