Shares of Aarti Drugs jumped over 6%, surging over 18% in the last 2 days after the Board of Directors approved the issuance of fully paid-up bonus share. The Board of Directors at its Meeting held on August 20, 2020, has approved the issuance of fully paid up Bonus Share in the ratio of 3:1 i.e. 3 (Three) Bonus Equity Share of Rs 10 each for 1 (One) fully paid-up Equity Share of Rs 10 each.
The board has also approved the increase in authorised share capital of the company from Rs 25 crore to Rs 120 crore by creation of additional 9.5 lakh shares.
Aarti Drugs, the maker of bulk drugs and chemicals, has delivered a stellar performance during the fiscal first quarter to June 30, even as Covid-19 pandemic disrupted economic activity across the globe.
Aarti Drug’s net profit rose 281% to Rs 85.45 crore in the quarter ended June while sales rose 34% to Rs 544.67 crore in the quarter from a year ago.
The stock has seen a fantastic run, with its stock jumping 373% for the year to date, taking the gains for the last decade to 3,808%.
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