Bharat Gears Share Price Today: Shares of Bharat Gears Ltd, rose up to 18 per cent on Wednesday with the company’s board set to consider a bonus share issue. A meeting of the finance committee of the board of directors of Bharat Gears is to be held on August 19, 2022, to consider the issue of bonus shares to the members of the company by way of capitalisation of reserves, the company said in a release.
As per the small-cap auto component company’s stock market exchange communication, “Pursuant to the Regulation 29 of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that 2/22-23 Meeting of the Finance committee of the Board of Directors of the company is scheduled to be held on August 19, 2022 inter-alia; to consider the issue of Bonus Shares to the members of the Company by way of capitalization of reserves.”
“Further, in terms of the Code for Prevention of insider Trading read with the SEBI (Prohibition of insider Trading) Regulations, 2015, the “Trading Window” for dealing in the shares of the Company for- Promoters/Promoter Group/ Directors/Key Managerial Personnel/Designated Persons/Connected Persons of the company shall be closed from Tuesday, August 16, 2022, till the period ending 48 (forty-eight) hours after the date of receipt of trading approval for the said Bonus Shares from the concerned Stock Exchanges (both days inclusive),” the small-cap company concluded.
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. The counter in the last five days has jumped over 23 per cent, while it is up almost 18 per cent and 35.5 per cent in the last one month and year, respectively, on the NSE.
This announcement of bonus shares can be a big relief for shareholders of the company as the stock has delivered just over 3 per cent return in last one month whereas in last 6 months, it has shed over 5 per cent. In year-to-date (YTD) time, it has appreciated over 4 per cent whereas in last one year it has risen from around Rs 125 to Rs 170 apiece levels, logging around 20 per cent jump in this period.
Bharat Gears Ltd(BGL) promoted by Bharat Steel Tubes and Raunaq & Company in collaboration with ZF Friedrichshafen Germany was incorporated in 1971 to manufacture automotive gears. The foreign collaborator holds 25.99 % stake in the company.BGL has two division i.e Automotive gears division and Industrial Furnaces division with the former contributing around 92% of the turnover and the later the balance.
The automotive gears division manufactures a wide range of gears – hypoid spiral gears and differential gears which go into axle assemblies and parallel axes gears and shafts which make up the gear box assemblies. This division supplies to OEMS in tractors trucks & Bus and Utility vehicle industries. The company also serves the replacement market and exports to overseas market.BGL’s two gear manufacturing units were located at Mumbra(Thane Dt) Maharashtra and Faridabad Haryana.
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