Raghav Productivity Enhancers Limited is recognized as the largest producer of silica ramming mass globally. The company boasts extensive manufacturing facilities in India and exports its high-quality products to over 35 countries. Notably, it stands out as the only firm in the world offering customized induction boiler liner solutions based on silica ramming mass.
Bonus Shares Announcement
On October 18, 2024, the company’s Board of Directors approved a proposal to issue bonus equity shares to its members. This will be done through the capitalization of the Securities Premium account in a 1:1 ratio, meaning that shareholders will receive one bonus equity share of Rs. 10 for every existing equity share they hold as of the record date, which is set for November 15, 2024. The issuance is subject to approval by the shareholders through a postal ballot. Approximately 2,29,52,600 equity shares with a face value of Rs. 10 each are proposed to be issued as bonus shares, with an estimated dispatch date of December 17, 2024.
Q2 Results Overview
In its financial results for the quarter ending September 2024, Raghav Productivity Enhancers reported a 37.80% increase in net profit, reaching Rs. 8.75 crore, compared to Rs. 6.35 crore in the same quarter of the previous year. Additionally, sales for Q2FY25 rose by 51.32%, amounting to Rs. 49.12 crore, up from Rs. 32.46 crore in Q2FY24.
Share Price Insights
Currently, Raghav Productivity’s stock price is considered overbought yet maintains a bullish outlook on daily charts, with the next resistance level identified at Rs. 1614. Analysts suggest that investors should consider booking profits at the current levels, as a daily close below the support level of Rs. 1240 could indicate a potential target of Rs. 1009 in the near term.
Disclaimer: This report is for informational purposes only and does not constitute financial advice. The performance of Raghav Productivity Enhancers Limited and its stock is subject to market risks and may fluctuate based on various factors. Investors should conduct their own research and consult with a qualified financial advisor before making investment decisions. The information provided herein is based on publicly available sources and is deemed reliable, but no guarantee is made regarding its accuracy or completeness.
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