Surya Roshni Shares Surge 9% to ₹610.45. Company Announces Bonus Share Issue on January 1, 2025. Despite a 24% Drop in 2024, Company Expects Business Improvement.
Bonus issue: Surya Roshni shares jumped 9% to ₹610.45 on Tuesday. This surge was triggered by the company's announcement of a bonus share issue, with a record date of January 1, 2025. The announcement sparked enthusiasm among investors, leading to heavy trading in the company's shares. However, Surya Roshni's performance in 2024 has been weak, with a 24% decline.
Market Enthusiasm Following Bonus Share Announcement
Surya Roshni announced that shareholders will receive one bonus share for each share held, with a record date of January 1, 2025. Following this news, the company's shares on the BSE rose 9% to ₹610.45. By market close, the stock was trading 5.52% higher at ₹592, with significant trading volume. A total of 6 lakh shares were bought and sold on the NSE and BSE.
Hopes Despite Weak Performance in 2024
However, Surya Roshni's performance in 2024 has been weak, with a 24% decline, while the BSE Sensex saw an 8% increase. The decline is attributed to the company's poor results. Despite this, the company is expected to improve in the future.
Surya Roshni: A Major Player in Lighting and Pipes
Surya Roshni is not limited to lighting; it is also India's largest exporter of ERW pipes and a manufacturer of galvanized iron pipes. Additionally, the company offers consumer durables brands such as fans and home appliances.
Business Situation and Future Direction
Surya Roshni's steel pipes business was impacted by declining HR steel prices and decreased demand, but operational efficiency mitigated losses. The lighting and home appliances segments have also improved due to better strategy and cost management.
