Ratnamani Metals & Tubes Ltd is a mid-cap company with a market capitalization of ₹ 12,065.17 Crore that operates in the metal industry.

Ratnamani Metals & Tubes Ltd is a mid-cap company with a market capitalization of ₹ 12,065.17 Crore that operates in the metal industry. Ratnamani's production plants are located in Gujarat, India, in Chhatral & Indrad (near Ahmedabad) and Bhimasar (near Gandhidham, Kutch). The production and testing resources of the company manufacture an extensive range of Nickel Alloy / Stainless Steel Seamless Tubes and Pipes, Stainless Steel Welded Tubes and Pipes, Titanium Welded Tubes, Carbon Steel Welded Pipes, and Stainless Steel / Carbon Steel Pipes.

The company's Board of Directors has considered and proposed a bonus issue in the ratio of 1:2, as well as a dividend of Rs.14.00 per equity share (i.e. @ 700 per cent) for the fiscal year ended March 31, 2022, subject to the approval of shareholders.

In BSE exchange filing, the company has said “The Board considered and recommended a bonus issue in the ratio of 1:2 i.e. One new bonus Equity Share of Rs.2/- each for every Two existing fully paid up Equity Shares of Rs.2/- each, subject to approval by the members and any other applicable statutory and regulatory approvals through postal ballot. Further, the bonus shares will be credited to those members who are holding the equity shares as on a record date Friday, July 1, 2022."

Also, the company has informed BSE by saying that “The Board has recommended a Dividend of Rs.14.00 per Equity Share (i.e. @ 700%) on 4,67,28,000 Equity Shares of Rs.2.00 each (pre-bonus) to the members, which translates into dividend of Rs.9.33 per equity share, having face value of Rs.2/- each (post-bonus), for the financial year ended on March 31, 2022, subject to the approval of the Members at the ensuing 38th Annual General Meeting of the Company. The dividend, if approved by the members at the ensuing AGM, would be paid to the members subject to deduction of tax at source, on or before September 8, 2022."

Ratnamani Metals and Tubes' shares closed at ₹ 2,582 on Friday, a 0.066 per cent drop from its previous closing of ₹ 2583.70. In the previous year, the stock has gained by 27.80 per cent, and year-to-date (YTD), the stock has returned 34.66 per cent so far in 2022. The stock reached a 52-week high of ₹ 2,864 on 3rd June 2022 and a 52-week low of ₹ 1,855.60 on 24th December 2021, meaning that it is now up 39 per cent from its 52-week low and down 9 per cent from its 52-week-high. The stock has traded higher than the 20 days, 50-day, 100-day, and 200-day moving averages but lower than the 5-day moving averages based on the last traded price.

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