BCL Industries Share Price Surges by 3.42% on Tuesday
On Tuesday, BCL Industries Limited’s share price saw a 3.42% surge in trading. The company’s total market capitalization is ₹2,160 crore. The company’s shares closed at ₹75.75 on Wednesday, February 28, 2024, after a 4.17% decline.
In yesterday’s trading session, BCL Industries, an ethanol producer, closed at ₹80 per share. On Thursday (February 29, 2024), the stock was trading at ₹74.9, down by 1.40%.
Over the past five days, the company’s shares have shown weakness. In the last month, investors have seen an 8% return on their investment. Over the past six months, the company’s share price has increased by 76%. In the last year, the company’s shares have given investors a 91% return.
On March 4, 2023, BCL Industries issued convertible warrants at a price of ₹360 each, with a face value of ₹10, totaling 54.66 lakh warrants. After receiving 25% of the total value, investors were given the option to convert based on volatility. Last year, on October 27, 2023, the company announced a stock split and decided to issue 10 equity shares in exchange for warrants.
On February 26, 2024, BCL Industries’ board of directors announced the allocation of 26.70 lakh shares at ₹36 per equity share to investors. The company will receive ₹7.209 crore as arrears in return. BCL Industries has informed SEBI that the conversion of 23.81 lakh warrants is currently pending. However, investors who have purchased warrants can convert them into equity shares by paying the remaining 75% of the amount.
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