Thangamayil Jewellery Ltd Surges to New 52-Week High with 1:1 Bonus Issue and Rs 6/Share Dividend

Rajesh
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Thangamayil Jewellery Ltd, a small-cap company operating in the gems and jewellery sector, witnessed a surge in its share price, reaching a new 52-week high. The company's shareholders recently approved a resolution for the payment of a final dividend of Rs 6.00 per equity share and the issuance of a bonus share in the ratio of 1:1. This blog post provides an overview of these developments and highlights the key details.

thangamayil jewellery ltd

Thangamayil Jewellery Sets Record Date for Bonus Share:

As per a regulatory filing by Thangamayil Jewellery on July 5, 2023, the company announced that its shareholders, during the Annual General Meeting, approved the issuance of bonus shares at a ratio of 1:1. Subsequently, the Board of Directors fixed July 17, 2023, as the record date for the bonus share issuance, in compliance with the SEBI (LODR) Regulations, 2015.

Thangamayil Jewellery Announces Payment Date of Dividend:

In another filing with the Bombay Stock Exchange (BSE) on July 5, 2023, Thangamayil Jewellery revealed that the shareholders passed a resolution at the 23rd Annual General Meeting to pay a final dividend of Rs 6.00 per equity share with a face value of Rs 10. The dividend payment is scheduled on or before July 25, 2023.

Thangamayil Jewellery Stock Performance, Return, and Financial Outlook:

Thangamayil Jewellery's stock traded at Rs 1650.00 per share on the BSE, registering an intraday gain of 0.95%. The company's stock hit a 52-week high of Rs 1742.15 per share and a 52-week low of Rs 944.15 per share. With a market capitalization of Rs 2263.73 crore, Thangamayil Jewellery has shown strong returns over different timeframes, including a 63% return in the last 3 months, 50% return in the last 6 months, 59% return in the last year, and an impressive 517% return in the last 3 years. Over the past 5 years, Thangamayil Jewellery's stock has soared by 281%. In the quarter ended March 31, 2023, the company reported a standalone total income of Rs 771.54 crore, representing a 3.63% increase from the preceding quarter. Furthermore, Thangamayil Jewellery declared a net profit after tax of Rs 31.03 crore for the same period.

About Thangamayil Jewellery:

Thangamayil Jewellery is a rapidly growing company in India, known for its chain of retail jewellery stores spread across multiple districts in Tamil Nadu. With South India accounting for 40% of the country's total gold consumption (WGC), Thangamayil Jewellery has positioned itself favorably in the market. The company traces its roots back to "Balu Jewellery," operated by the promoters of Thangamayil Jewellery Private Limited, before its formation in 2000. For more information about the company, visit its official website.

Disclaimer:

This article is intended solely to provide information about Thangamayil Jewellery Ltd's dividend and bonus issue and should not be considered as a recommendation to buy, sell, or hold the stock. The author do not express any opinion on the mentioned stock, and neither should be held responsible for any losses incurred. It is advisable to consult a professional advisor before making any investment decisions.

Also Read : Incurring a Penalty of Rs 6,000 for Failing to Link PAN with Aadhaar: A Guide to Income Tax Return.

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