Suprajit Engineering Hits Upper Circuit on Bonus Issue and Stock Split Announcement
Suprajit Engineering hit upper circuit of 5% today on BSE, after the company said its board will meet on 30 January 2010 to consider stock-split and issue of bonus shares. The company announced the board meet before trading hours today, 18 January 2010. The small-cap stock had outperformed the market over the past one month till 15 January 2010, rising 39.02% as compared to the Sensex’s 4.01% rise. It had also outperformed the market in the past one quarter, surging 55.29% as compared to the Sensex’s return of 2.09%. If approved by the board, this will be the second bonus from Suprajit Engineering. Earlier, the company had issued a liberal 1:1 bonus in March 2004.
The company is engaged in manufacturing and selling auto components. It produces automotive, non-automotive and push pull cables. The automotive cables includes brake cables, clutch cables, throttle-cables, sear shifi cables, choke cables, speedometer cables, tachometer cables, window regulator cables, mirror cable assemblies, seat rediner cables and latch release cables. Non-automotive cables include washing machines, material handling, earth moving equipment, marine applications, ATVs and lawn movers tractors.
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