MM Forgings to issue bonus shares for first time in six years; check details here
₹6 per share in both 2022 and 2023.Also read: Market capitalization of 9 of top-10 most valued firms jump ₹1.85 lakh crore; Reliance and HDFC top gainersMM Forgings is a significant exporter of forgings in India, positioning itself as a comprehensive provider of closed die forgings for both domestic and international markets, according to its website.The company operates 10 plants with a combined capacity of 1.1 lakh metric tonnes.Brokerage firm Anand Rathi has given a ‘buy’ rating to the MM Forgings stock, with a target price of ₹1,200.For the quarter ending December 31, 2023, the company reported a consolidated total income of ₹404.15 crore, which is a 0.85 per cent increase from the previous quarter's total income of ₹400.73 crore and a 7.41 per cent increase compared to the same quarter last year's total income of ₹376.27 crore. The company also reported a net profit after tax of ₹33.54 crore for the latest quarter.Also read: FPO lock-in expiry: Vodafone Idea share price to gain focus on Monday as anchor investors' 30-day lock-in period endsShares of MM Forgings declined by 1 per cent on Friday but have gained 15.5 per cent year-to-date in 2024.
Over the past 12 months, the stock has risen by 33 per cent, and it has doubled over the last five years. Milestone Alert!
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