Ratnamani hits new high
By Ruma Dubey
about 9 months ago
Ratnamani Metals opened over 8% higher today at Rs.1799 and went on to hit a new 52-week high at Rs.1920; profit booking at this high has since then pushed the stock to 1780 levels currently.
Tomorrow is the record date – the day when bonus shares will be credited to shareholders and it is trading ex-bonus today - when the purchaser does not have the right to receive the current bonus. Usually, ex-bonus price is lower but here, it remains high.
The company had declared a 1:2 bonus for shareholders on 18th May.
The company has also declared a Rs.14/share (FV of Rs.2) and for the record date is 1st August.
Once the bonus shares get credited to the demat account, the stock price stabilizes.