Setco Automotive Bonus Issue
Setco Automotive rose 2.15% to Rs 254 after the company’s board recommended a liberal 1:1 bonus issue. The small-cap auto component maker has an equity capital of Rs 8.82 crore. Face value per share is Rs 10.
This is company’s maiden bonus issue. The board also recommended a dividend of Rs 3 per share for the financial year 2009-10. However, the company clarified that the bonus shares will not be eligible for dividend for the financial year 2009-10.
Setco Automotive’s net profit surged 165.80% to Rs 7.23 crore on 51.50% increase in net sales to Rs 68.42 crore in Q4 March 2010 over Q4 March 2009.
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