1:3 Bonus Shares Recommended: Engineering Firm Posts 47.95% Jump In Q2 Net Profit, Buy?

1:3 Bonus Shares Recommended: Engineering Firm Posts 47.95% Jump In Q2 Net Profit, Buy?

Investment oi-Renu Baliyan

Small cap company Rajoo Engineers Ltd shares today witnessed decline of 2.58% despite posting a growth of 47.95% in its consolidated net profit for the quarter ended September 30, 2024. The company declared a net profit of Rs 7.93 crore for September 30, 2024 quarter as against Rs 5.36 crore declared in the corresponding quarter of last year. Rajoo Engineers also recommended 1:3 bonus shares implying shareholders will get 1 bonus share for every 3 shares held as on the record date. Record date for bonus shares is yet to be intimated. Check details below:

Rajoo Engineers Recommends Bonus Shares: As per the exchange filing of Rajoo Engineers dated October 14, “considered, approved and recommended the issue of Bonus equity shares in the ratio of 1:3 i.e. 1 (One) New fully paid Equity Share for every 3 (Three) existing Equity Share held as on Record Date by the shareholder, subject to the approval of the shareholders of the Company through Postal Ballot.”

Rajoo Engineers Quarterly Results: The company for the quarter ended September 30, 2024 declared its consolidated revenue from operations at Rs 56.80 crore as against Rs 53.53 crore declared in the similar quarter of last year. Total expenses for the September 2024 quarter was declared at Rs 48.87 crore as compared to Rs 47.36 crore in the similar quarter of last year.

The company declared its September 2024 EPS at Rs 0.64 from Rs 0.44 declared in the similar quarter of last year.

Rajoo Engineers Ltd Shares Performance: The 52-week high price of Rajoo Engineers Ltd share on BSE is Rs 443.90 per share (as on 07/10/2024) and 52-week low price is Rs 47.83 per share (as on 13/10/2023), respectively. Rajoo Engineers shares slipped in red in last 1-week with decline of 6.16%, gave phenomenal returns of 275% so far in 2024, rose 718% in last 1-year and gained 2520% in last 2-years.

Should You Buy Rajoo Engineers? According to A R Ramachandran, Independent SEBI Research Analyst, “Rajoo Engineers is sideways to bearish on the Daily charts with strong resistance at 444. A Daily close below support of 390 could lead to target of 353 in the near term.”

Rajoo Engineers Dividend In 2024: Board of Directors on June 28, 2024 declared a final dividend of Re 0.125 per equity share of Re 1 each. Rajoo Engineers fixed September 20, 2024 as the Record Date for the purpose of determining the eligibility of members for payment of final dividend.

Shareholding: FII/FPI have decreased holdings from 0.37% to 0.27% in June 2024 quarter. Number of FII/FPI investors remains unchanged at 12 in June 2024 quarter. Mutual Funds holding remains unchanged at 0.00% in June 2024 quarter. Institutional Investors have decreased holdings from 0.37% to 0.27% in June 2024 quarter.

Disclaimer: The stock has been picked from the brokerage report of AR Ramachandran. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.

Story first published: Monday, October 14, 2024, 20:15 [IST]

Original news source Credit: www.goodreturns.in

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