Manappuram General Finance Bonus Issue & Stock Split
Manappuram General Finance & Leasing Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 18, 2010 to consider Bonus Issue, Stock Split / subdivision of shares. The stock closed the day at Rs.692.80, down by Rs.7.20 or 1.03%. The stock hit an intraday high of Rs.707 and low of Rs.690.
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[...] Manappuram General Finance & Leasing gained by 2.60% on BSE, after the company’s board approved a 5-for-1 stock split and a liberal 1:1 bonus issue. The stock hit a high of Rs 789 and a low of Rs 772.50 so far during the day. The stock had hit a lifetime high of Rs 820 on 15 March 2010 and a 52-week low of Rs 124.10 on 1 April 2009. The company’s equity capital is Rs 32.47 crore. Face value per share is Rs 10. The current price of Rs 785 discounts the company’s Q3 December 2009 annualized EPS of Rs 81.14, by a PE multiple of 9.68. This is the second bonus from Manappuram General Finance & Leasing. Earlier, the company had issued a liberal 1:1 bonus on March 2007. Manappuram General Finance & Leasing’s net profit surged 299.9% to Rs 34.99 crore on a 192.8% rise in operating income to Rs 132.14 crore in Q3 December 2009 over Q3 December 2008. [...]