APL Apollo Tubes Ltd board approves 1:1 bonus issue

The Board of Directors of APL Apollo Tubes Ltd in its meeting held today i.e., Friday, August 6, 2021, have approved the increase in authorized share capital of the Company from Rs. 45,00,00,000/- (Rupees Forty Five Crores Only) to Rs. 75,00,00,000/- (Rupees Seventy Five Crores Only) by creation of additional 15,00,00,000 (Fifteen Crores) equity shares of Rs. 2/- (Rupees Two Only) each and consequent amendment to clause V of the Memorandum of Association of the Company, subject to the approval of the members.

The board also approved the recommendation of issue of bonus equity Shares in the proportion of 1 (One) equity share of Rs. 2/- each for every 1 (One) Equity Shares of Rs. 2/- each held by the shareholders of the Company as on the record date, subject to the approval of members and other approvals, consents, permissions, conditions and sanctions, as may be necessary.

Shares of APL Apollo Tubes Limited was last trading in BSE at Rs. 1751.3 as compared to the previous close of Rs. 1709.45. The total number of shares traded during the day was 17035 in over 2168 trades.

The stock hit an intraday high of Rs. 1785 and intraday low of 1720. The net turnover during the day was Rs. 29928223.

Source : Equity Bulls

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