Kothari Products added 3.92% to Rs 202.95 after the company announced that its board has approved the issue of bonus shares in the ratio of 1:1, subject to the approval of the shareholders of the company.
Accordingly, the companys authorized share capital would increase from Rs 31.50 crore to Rs 61.50 crore.
The bonus share issue would be funded through the free reserves of the company. A sum of Rs 29.84 crore would be capitalized for the implementation of the same.
Kothari Products is primarily engaged in international trading of various products and commodities which include coal, agro based commodities, storage devices, transformers, edible oil, steel, tiles, polyvinyl chloride (PVC), metals etc. The company along with its subsidiaries and other group entities is also engaged in real estate development and leasing.
The company had reported a consolidated net loss of Rs 120.12 crore in the quarter ended September 2024 as against net profit of Rs 0.44 crore during the previous quarter ended September 2023. Sales rose 0.04% to Rs 265.90 crore in Q2 FY25 over Q2 FY24.
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