Mold-Tek Technologies Shares Extend Gains Ahead of 1:1 Bonus Issue Record Date

Mold-Tek Technologies shares moved higher for a third straight session on Wednesday, September 30, as investors tracked the approaching record date for the company’s 1:1 bonus share issue. 

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The stock gained nearly 3% during intraday trade. At 3 pm, it was trading 1.77% higher at ₹206.50 on the BSE, giving the company a market capitalisation of ₹594.83 crore. 

During the session, Mold-Tek Technologies touched a high of ₹209.85 and a low of ₹202.90. 

The company’s board has approved one bonus equity share for every one fully paid-up equity share held by eligible shareholders. 

October 9 has been fixed as the record date for deciding which shareholders will be eligible for the bonus shares. Investors would therefore need to own the shares by October 8 to qualify. 

The bonus issue will also expand the company’s paid-up equity share capital. It currently stands at ₹5.76 crore and is expected to increase to ₹11.52 crore following the 1:1 issue. Its authorised equity share capital stands at ₹13 crore. 

Stock doubles in six months 

Mold-Tek Technologies has seen a sharp rise in its share price in recent months. 

The stock has gained 53% over the past three months and has doubled in six months. Over the past week, it has risen 4.47%. 

The longer-term performance has been more mixed. The shares have gained 14% over one year and 40% over three years, while they are down 12% over a two-year period. 

Mold-Tek Technologies’ Tesla connection 

Mold-Tek Technologies provides services across a range of industries and has previously worked on a vehicle development programme for Tesla. 

In 2019, the company contributed to the development of Tesla’s Model Y. Its work included mechanical design and robotic simulation for fixtures used for the floor, dash and rear panel. 

For now, attention around the stock is centred on the upcoming bonus issue, with October 9 set as the date for determining eligible shareholders.