Bonus Alert: After five free shares in 2024, metal stock to consider another proposal on August 8
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Smallcap stock Sandur Manganese & Iron Ores on Tuesday informed the exchanges that its board will meet on Friday, August 8 at 12.30 pm to consider a proposal for issue of bonus shares to the equity shareholders of the company. The company last issued bonus shares in the ratio of 5:1 in February 2024.The announcement was made today during the market hours and shares of Sandur Manganese & Iron Ores closed at Rs 468.15, gaining 19.25 or 4.3% over the Monday closing price.The company will also declare its quarterly earnings on Friday.Sandur Manganese is an integrated and diversified commodity producer having a presence for over six-and-a-half in mining. The company has expanded beyond mining operations to include the production of ferroalloys, coke and energy, and continues to work towards further downstream expansion and diversification.The stock has been a market laggard, declining over 12% in the past one year, though its gains in 2025 so far stand at 13%.The company reported a consolidated net profit of Rs 156 crore in the quarter ended March 31, down 4.5% versus Rs 164 crore in the year ago period. The total revenue from operations for Sandur Manganese & Iron Ores in the Q4FY25 quarter stood at Rs 1,330 crore, which is growth of 128% YoY.The stock has traded with high volatility in the last 12 month with a 1-year beta of 1.4 according to Trendlyne data.The stock is currently trading below its 50-day simple moving average (SMA) of Rs 473 while remaining above the 200-day SMA of 451.1.
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