Banco Products (India) Ltd, a small-cap company in the auto ancillaries sector, saw its shares rise by 3.05% today on the Bombay Stock Exchange, with a notable 6.34% surge ahead of its Board of Directors meeting scheduled for November 13, 2024. During the meeting, the company is set to review its unaudited financial results for the quarter ending September 30, 2024, and consider recommending a bonus share issue to its shareholders.
The last traded price of Banco Products shares was ₹758.50, giving the company a market capitalization of ₹5,424.69 crore. Banco Products has been consistent in rewarding its shareholders, having declared 32 dividends since its inception in 2001. Over the past year, the company paid a dividend of ₹20 per share, providing a dividend yield of 2.64% at the current share price.
The company’s stock has experienced strong growth, increasing by more than 15% in the last two weeks, 61% over the past year, and 575% over the past five years. The 52-week high for Banco Products shares stands at ₹798, while the 52-week low is ₹477.40. Although Foreign Institutional Investors (FII/FPI) slightly reduced their holdings from 3.21% to 3.08% in the September 2024 quarter, the number of FII/FPI investors increased from 76 to 93 during the same period.
Banco Products, founded in 1961, specializes in engine cooling and sealing systems and has established itself as a leader in this niche market. The company’s upcoming board meeting on November 13 could have significant implications for its future, particularly with the potential issuance of bonus shares, which may further boost investor confidence.
Disclaimer: The information provided is for informational purposes only and should not be considered financial advice. Investors are advised to conduct their research or consult a financial advisor before making any investment decisions.
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