with a market capitalization of 183.80 Crore, Bharat Gears Limited is a small cap company operating in the consumer discretionary sector. The largest gear manufacturer in India is Bharat Gears Limited (BGL), one of the global pioneers in gear technology. BGL is an important provider of heat treatment furnaces and automotive gears globally. The firm mainly produces gear boxes, transmission gears and shafts, differential gears and ring gears and pinions for the automobile sector. The record date for 1:2 bonus shares was initially set for September 13, 2022 by the Board of Directors, however, it has since been changed to September 28, 2022.
Today the company informed the stock exchanges saying “Further to our letter dated 25th August, 2022, we would like to inform you that the Board of Directors of the company vide its resolution passed through circulation on 29th August, 2022 Record date has been revised as “Wednesday, September 28, 2022” in place of “Tuesday, September 13, 2022” for Bonus issue of Equity Shares of the Company to the members entitled for Bonus Equity Shares at the rate of 1:2. For the purpose of determining in the ratio one (1) bonus equity share of Rs.10/- each fully paid-up to two (2) equity shares of Rs.10/- eligible members by capitalizing an amount of Rs.10/- 5,11,83,530/- (Rupees Five Crore Eleven Lakh Eighty Three Thousand Five Hundred Thirty Only) from Capital Redemption Reserve, with the approval of the Shareholders at the Annual General Meeting (AGM) scheduled on 20th September, 2022. Subordinate.”
Shares of Bharat Gears Limited closed on NSE today 179.80 per share, up 3.30 per cent from the previous close of 174.05 The stock has given a multibagger return of 201.68% during the last three years, and has climbed 46.11% over the previous year. The stock has gained 23.91% YTD so far in 2022. A total of 144,103 shares were traded today, which is below the 20-day average volume of 220,831 shares. The stock is trading above the 5-day, 10-day, 20-day, 50-day, 100-day and 200-day Exponential Moving Averages (EMA) at the current market price. Bharat Gears has a promoter shareholding of 55.32% and the company’s book value per share is 81.65 which translates to a price to book (P/B) of 2.20 per share which is lower than its peers like Bosch, Motherson Wiring, Endurance. Tech, ZF Commercial and Uno Minda.
catch all business News, market news, today’s fresh news events and breaking news Updates on Live Mint. download mint news app To get daily market updates.