Precision Wires India advanced 6.27% to Rs 93.25 after the company announced that its board on Thursday, 10 November 2022, will consider and approve the issuance of bonus shares to the equity shareholders of the company.
On the same day, the board will also consider financial results for quarter and half year ended 30 September 2022.
Precision Wires India is engaged in manufacturing of enamelled round and rectangular copper winding wires, continuously transposed conductor (CTC) and paper/mica/nomex insulated copper conductor(PICC) which are used by the electrical/electronics industries.
The company's net profit surged 45.3% to Rs 16.83 crore on 55% jump in net sales to Rs 821.45 crore in Q1 FY23 over Q1 FY22.
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