Company Update - Elgi Equipments - ICICI Securities

Elgi Equipments (Elgi) turns ex-bonus from September 24, 2020 pursuant to the approval granted by shareholders for the issue of bonus shares. The record date for the same has been fixed as September 26, 2020. The board has recommended the issue of bonus shares in the proportion of one bonus share (face value of Rs. 1 each) for every share held by shareholders (i.e. 1:1). Consequently the current market price has changed from Rs. 254/ share to Rs. 127/ share. Accordingly, we have adjusted the target price for ex-bonus and revised it further to Rs. 130/ share.

For details, click on the link below: https://www.icicidirect.com/mailimages/IDirect_ElgiEquipments_CoUpdate_Sep20.pdf

Shares of ELGI EQUIPMENTS LTD. was last trading in BSE at Rs.124.5 as compared to the previous close of Rs. 245.3. The total number of shares traded during the day was 23674 in over 1171 trades.

The stock hit an intraday high of Rs. 134.05 and intraday low of 122. The net turnover during the day was Rs. 3020118.

Source : Equity Bulls

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