Bharat Gears Share Price Today: Shares of Bharat Gears Ltd rose to 18 percent on Wednesday, while the company’s board is said to consider an issuance of bonus shares. A meeting of the finance committee of the board of directors of Bharat Gears will be held on August 19, 2022 to discuss the issuance of bonus shares to the members of the company through reserve capitalization, the company said in a press release. .
According to the announcement on the exchange of the small-cap auto parts company, “According to Regulation 29 of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that 22-2-23 meeting of the financial committee of the The board of directors of the company will be held inter alia on August 19, 2022; to consider the issuance of Bonus Shares to the members of the Company through capitalization of reserves.”
“Further, in terms of the Insider Trading Prevention Code, read with the SEBI (Prohibition of Insider Trading) Regulations, 2015, the “Trading Window” for dealing in the Company’s shares for Promoters/Promoter Group /Directors/Key Executives/Designated Persons/Associated Persons of the Company will be closed from Tuesday, August 16, 2022 until the period ending 48 (forty-eight) hours after the date of receipt of dealing approval for the said Bonus Shares of the relevant Share Exchanges ( both days inclusive),” concluded the small cap company.
The stock hit a 52-week high of Rs 188.70 on January 7, 2022 and a 52-week low of Rs 111.84 on August 23, 2021. It is trading 9.09 percent below the 52-week high and 53.39 percent above the 52-week low. The counter is up more than 23 percent in the past five days, while it is up nearly 18 percent and 35.5 percent respectively on the NSE in the past month and year.
This announcement of bonus shares could come as a big relief to shareholders of the company, as the stock has gained just over 3 percent in the past month, while it has fallen more than 5 percent in the past 6 months. In year-to-date (YTD) time, it is up more than 4 percent, while in the past year it has jumped from about Rs 125 to Rs 170 each, jumping about 20 percent over this period.
Bharat Gears Ltd (BGL), promoted by Bharat Steel Tubes and Raunaq & Company in association with ZF Friedrichshafen Germany, was founded in 1971 to manufacture automotive gears. The foreign employee has a 25.99 % interest in the company. BGL has two divisions, namely the Automotive gears and Industrial Furnaces division, with the former contributing about 92% of sales and the latter contributing the rest.
The automotive gears division produces a wide variety of gears – hypoid gears and differentials that are incorporated into shaft assemblies and parallel shaft gears and shafts that make up the gearbox assemblies. This division supplies OEMs in the tractor, truck and bus and commercial vehicle industries. The company also serves the replacement market and exports to the overseas market. BGL’s two gear factories were located in Mumbra (Thane Dt) Maharashtra and Faridabad Haryana.
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