Raghav Productivity Enhancers, a small-cap company known for manufacturing electrodes and refractories, is gearing up for its second bonus issue in just 14 months. This announcement led to a strong surge in the company’s stock price, which jumped nearly 12% on the day, pushing it close to its 52-week high. As of October 11, 2024, the stock closed at ₹1,206.95 on the BSE, reflecting an 8% gain, with a market capitalization of ₹2,770.26 crore. The stock has seen an impressive rise of around 127% from its 52-week low of ₹532.
A board meeting is scheduled for October 18, 2024, to review several key decisions, including the proposal for issuing bonus equity shares, the unaudited financial results for the quarter and half-year ending September 30, 2024, an increase in authorized capital, and plans for potential investments. This upcoming bonus will be the company’s third, following the most recent 1:1 bonus issue in August 2023 and a 2:5 issue in May 2018.
Raghav Productivity Enhancers is the world’s largest manufacturer of Silica Ramming Mass, a high-purity refractory material used to line induction furnaces, protecting from extreme heat and chemical reactions during metal melting. The company has established a strong presence both in India and internationally, supplying over 35 countries. Over the last year, its stock price has gained 65%, significantly outperforming the BSE Sensex’s 23% rise during the same period.
While the company’s dividend yield remains modest at 0.07%, it has distributed five dividends since June 2021, with the most recent payout of ₹0.90 per share in May 2024.
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