This Multibagger Auto Components Company Fixes Record Date For Bonus Shares; Do you Own?

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Bharat Gears Ltd Bonus Shares: Auto components company, Bharat Gears Ltd (BGL), recently announced that its board of directors has recommended the issue of bonus shares in the ratio of 1 bonus equity share per 2 existing equity shares. The company has set the record date as August 24, for the purpose of 1:2 bonus shares, the Board of Directors of the company has announced the record date in order to determine the eligibility of the shareholders.

In its latest exchange filing, the small-cap company said, “This is further to the meeting of the Board of Directors of the Company held on August 24,2022 approving the issuance of Bonus Equity Shares of face value of Rs. 10/- each by way of capitalization of reserves to the existing members of the Company in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and other applicable laws subject to the approval of the members in the ensuing Annual General Meeting. We wish to inform you that the Board of Directors at their meeting held on August 24, 2022 has fixed Tuesday, September 13, 2022 as Record Date for the purpose of determining the members entitled for the Bonus Equity Shares in the ratio of 1:2 i.e. One (1) Bonus Equity Share of Rs. 10/- each fully paid up for every Two (2) Equity Shares of Rs. 10/- each fully paid up to the eligible members by capitalizing a sum of Rs. 5,11,83,530/- (Rupees Five Crores Eleven Lakhs Eighty Three Thousand Five Hundred Thirty Only) out of the Capital Redemption Reserve, subject to the approval of Shareholders in the scheduled Annual General Meeting (AGM) dated September 20, 2022.”

As per the taxation rules in regard to bonus shares, the cost price of bonus shares would be considered zero if it has been issued after 31st January 2018 whereas in case of bonus share issuance on or before 31st January 2018, its cost price will be considered its close price on 31st January 2018. Apart from this, selling of the shares post-bonus share issue is considered on FIFO (First In First Out) basis. Means, if a shareholder decides to sell shares after issuance of bonus shares, initially the shares he or she bought would be considered sold out and once the initial shares are sold, only then bonus shares are considered sold out.

BGL is a major global supplier of automotive gears and heat treatment furnaces. The company manufactures a wide range of ring gears and pinions, transmission gears and shafts, differential gears, and gearboxes majorly for the automotive industry. BGL is a major global supplier of automotive gears and heat treatment furnaces. The company manufactures a wide range of ring gears and pinions, transmission gears and shafts, differential gears, and gearboxes majorly for the automotive industry.

Share Price History

The shares of Bharat Gears Ltd closed today at Rs 175.00 apiece, down by 3.61 per cent from the previous close of Rs 181.55 per share. The stock has gained 33.74 per cent during the past five years, but it has given a multibagger return of 205.04 per cent over the past three years. The stock has gained 48.54% over the past year, and YTD, it has gained 20.61 per cent so far in 2022.

The share touched a 52-week high of Rs 188.70 on January 7, 2022 and a 52-week low of Rs 111.84 on August 23, 2021. It is trading 9.09 percent below its 52-week high and 53.39 percent above its 52-week low.

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