Bajaj Steel Industries Ltd shares on Bombay Stock Exchange (BSE) today closed 0.79% down at Rs 3505.60 per share. The company recommended 3:1 bonus share on October 3, 2024 and fixed November 12, 2024 as the record date to decide eligibility of shareholders for the issuance of bonus shares. If you hold 1000 shares of Bajaj Steel Industries Ltd as on the record date, you will receive 3000 free shares. Bajaj Steel Industries shares offered shareholders returns of 203.7% so far in 2024 and soared 225% in last 1-year. The company has a market capitalisation of Rs 1822.91 crore. However, should you buy Bajaj Steel Industries shares before the record date? Find the answer below:

Bajaj Steel Industries Ltd To Trade Ex-Bonus Soon?

As per the exchange filing of Bajaj Steel Industries Ltd dated November 5, 2024, “this is to inform you that the Bonus Shares Allotment Committee of the Company has fixed the date of Tuesday, November 12, 2024 as the “Record Date” to determine the eligibility of shareholders for the issuance of Bonus Shares in the ratio 3:1 i.e. three (3) new equity shares for every one (1) share held by the shareholders.”

Further, the said committee had fixed the date of allotment as November 13, 2024 for the allotment of 15600000 Bonus Equity Shares having a face value of Rs.5/- each. We also undertake that we shall ensure submission of the requisite documents to Depositories for credit of bonus shares in the depository system latest by 12 P.M. of the next working day of the record date (i.e. T+1 day), added the exchange filing.

Should You Buy Bajaj Steel Shares?

According to A R Ramachandran, Independent SEBI Research Analyst, “Bajaj Steel is bearish on the Daily charts with strong resistance at 3724. A Daily close below support of 3376 could lead to a target of 2871 in the near term.”

Bajaj Steel Industries Shares Performance:

The 52-week high price of Bajaj Steel Industries Ltd shares on BSE is Rs 3724.00 per share and 52-week low price is Rs 1030.60 per share, respectively. Bajaj Steel Industries shares gave return of 172% in last 6-months, soared 280% in last 3-years, and jumped 2797% in last 5-years.

About:

Bajaj Steel Industries Limited (BSIL), established in 1961, is a leading global engineering company with a world class infrastructure and manufacturing facilities. Bajaj Steel is engaged in manufacturing of cotton ginning & pressing machinery, cotton seed delinting & decorticating machinery, pre-engineered steel buildings & industrial civil buildings, electrical panels and electrical systems (LT & HT), speciality conveyors, heavy engineering equipment, hydraulic cylinders, power packs and manifolds, power transmission products, industrial fans & impellers, fire-fighting systems, steel safety doors and fire resistance steel doors, machined components as per drawings, industrial fabrications, according to its LinkedIn page.

Disclaimer:

The stock has been picked from the brokerage report of AR Ramchandran. 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: Tuesday, November 5, 2024, 16:47 [IST]