FII-Backed Small Cap Likely To Declare Maiden Bonus Issue, Buy?

Greenlam Industries Ltd shares today slipped 2.06% on Bombay Stock Exchange (BSE) to settle at Rs 555.00 apiece. Board of Directors of the company will declare quarterly results and bonus share today. The company never recommended any bonus share since January 1, 2000. It has declared 10 dividends since August 14, 2015. In last 1-year, it declared Rs 1.65 per share dividend.

It has a market capitalisation of Rs 7,080.35 crore and offers return on equity (ROE) of 12.84%. Greenlam Industries shares plunged 7.81% in last 1-month and surged 81.94% in last 2-years. Check key details below:

Greenlam Industries To Consider Financial Results

As per the regulatory filing of Greenlam Industries dated January 25, 2025, “a meeting of the Board of Directors of Greenlam Industries Limited will be held on Thursday, January 30, 2025, inter alia, to consider and approve the Un-audited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended December 31, 2024.”

Greenlam Industries To Recommend Bonus Shares

The company issued an update on its Board of Directors meeting on January 27, 2025 stating, “This is in continuation to our intimation dated January 23, 2025, regarding the Board Meeting to be held on January 30, 2025. We wish to inform you that, pursuant to Regulation 29 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company, at their said meeting, shall also consider a proposal to issue bonus shares to the equity shareholders of the Company by capitalization of reserves.”

Shareholding

FII/FPI have increased holdings from 1.72% to 1.78% in December 2024 quarter. Number of FII/FPI investors increased from 56 to 58 in December 2024 quarter. Mutual Funds have increased holdings from 12.93% to 13.02% in December 2024 quarter. Institutional Investors have increased holdings from 17.35% to 17.50% in December 2024 quarter. Number of MF schemes remains unchanged at 4 in December 2024 quarter, according to Trendlyne.

Greenlam Industries Shares Performance

The 52-week high price of Greenlam Industries shares on BSE is Rs 661.65 apiece (as on 27/05/2024) and 52-week low price is Rs 431.05 per share (as on 18/03/2024), respectively. Greenlam Industries Ltd shares slipped over 7% year-to-date (YTD), surged 4.12% in last 3-months, and rallied 54.50% in last 3-years. In last 5-years, Greenlam Industries stock soared 176.80%.

Should You Buy Greenlam Industries Shares?

According to A R Ramachandran, SEBI registered Independent research analyst, “Greenlam Industries is sideways to bearish on the Daily charts with strong resistance at 589. A Daily close below support of 537 could lead to a target of 500 in the near term.”

Disclaimer

The stock has been picked from the brokerage report of AR Ramchandran. Moneydaily.in, the author, and the respective brokerage house will not be held accountable for any losses caused as a result of decisions based on the article. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.