Ddev Plastiks Reached 52-Weeks High Before Dividend & Bonus Announcement!

The Indian headline indices fell sharply at the session’s end, pulled down by stocks in the auto and banking sectors. Broader indices, which had been outperforming throughout the session, maintained their lead and finished higher.  

Ddev Plastiks Industries Ltd, one of the top gainers from the BSE Smallcap pack, kept small-cap bulls busy in an otherwise weak market day. On an intraday basis on Tuesday, the shares of Ddev Plastiks Industries Ltd witnessed a closing rally, reaching a new 52-week high of Rs 137 per share on the BSE. With a more than 5-fold surge in volume, shares ended the session over 12% higher.  

The company earlier announced that the upcoming meeting of the company’s board of directors will be held on May 16, 2023, to consider, approve and record the audited financial results; recommend a dividend, if any, for the financial year ended March 31, 2023 and consider a proposal for the declaration of bonus shares.    

The company recorded remarkable growth in both revenue and net profit, boosting the optimism among investors. The board of directors recommended issuing bonus shares in a ratio of 1:10, i.e. one bonus equity shares of Re 1 for every ten fully paid-up equity shares of Re 1 held as of the record date, subject to approval by the shareholders of the company.  

In addition, the board has recommended distributing a final dividend of Re 1 per fully paid-up equity share (100%) for the financial year ending March 31, 2023. Shares of the company have skyrocketed more than 210% in the past year, with stellar returns of about 46% in the last one month!    

Keep a close eye on this scrip for the upcoming sessions!