Fri Nov 15 06:36:03 UTC 2024: ## Bajaj Steel Industries Share Soars 15% on Ex-Bonus Date

**Nagpur, India:** Shares of small-cap stock Bajaj Steel Industries surged 15% during trading on Tuesday, reaching a 52-week high of ₹982. This surge is attributed to the company’s ex-bonus date, where shareholders are eligible to receive bonus shares without any additional cost. Bajaj Steel Industries recently announced a 3:1 bonus share ratio, with the record date set for November 12.

The company’s share price has witnessed a remarkable 220% increase over the past year. Bonus shares, a common practice among companies, are designed to enhance shareholder value by increasing the number of shares outstanding. This can lead to a rise in market capitalization and attract new investors, particularly those seeking entry into the stock market.

Despite the impressive performance, Bajaj Steel Industries is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a potential opportunity for investors to acquire the stock at a lower price.

Bajaj Steel Industries, established in 1961, is a public limited company headquartered in Nagpur, India. Listed on the Bombay Stock Exchange, the company boasts a state-of-the-art engineering setup across various plants in and around Nagpur. It stands as the only company worldwide to offer a comprehensive range of machinery for cotton ginning, encompassing all technologies like double roller, saw gin, and rotobar; various pressing techniques like down packing, up packing, and horizontal packing; as well as seed cleaning, delinting, and decorticating. Its operations also extend to engineering manufacturing, machining, and other engineering activities.

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