2 multibagger stocks Rama Steel Tubes and Globe Multi Ventures to go ex-bonus on Friday

Rama Steel Tubes and Globe Multi Venture (erstwhile Globe Commercials) are two multibagger stocks, which will go ex-bonus on Friday. Globe Multi Venture had announced bonus in the ratio of 1:1.  Rama Steel Tubes shares had announced bonus in the 4:1 ratio.           

Data showed shares of Rama Steel Tubes have jumped 110 per cent in the last one year. Shares of Globe Commercials have gained 190 per cent during the same period.

In the case of Globe Multi Ventures, the record date fixed for the bonus issue was revised from December 22 to January 7. The company recently approved increase of authorised share capital from Rs 5.95 lakh to Rs 10 crore, which was required consequent to issue of bonus shares and accordingly. 

Globe Multi Ventures fell 1.4 per cent to close at Rs 59.75 on Friday. Rama Steel Tube closed the day at Rs 173.55, down 5.58 per cent.

In the case of Rama Steel Tubes, the company has set January 6 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of bonus shares.

“The bonus shares, once allotted, shall rank pari-passu in all respects with and carry the same rights as the existing equity shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the new equity shares are allotted,” Rama Steel Tubes said in a note.

Rama Steel Tubes is a structural steel tube company. It registered its ever highest sales volume of 53,21.6 tonnes in the December quarter. The sales volume for 9-month of FY23 stood came in at 1,31,824 tonnes compared with 71,071 tonnes last year. The sales volume would get further boost from commissioning and ramp-up of new capacity expansion at Khopoli Plant, Maharashtra, this company said on January 3.

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