Hot Pursuit     07-Dec-23
Sandur Manganese soars on bonus equity share issue proposal
Sandur Manganese & Iron Ores jumped 11.29% to Rs 1818 after the company announced that its board will meet on Monday, 18 December 2023, to consider the proposal for issue of bonus shares to the equity shareholders of the company.

The announcement was made during market hours today, 7 December 2023.

Sandur Manganese & Iron Ores is the flagship company of the Karnataka-based Sandur Group. It is involved in mining of low phosphorous manganese and iron ore in the Hosapete-Ballari region of Karnataka. It also manufactures ferro-alloys (silico-manganese) at its plant in Vyasankare, near Hospet.

The company's consolidated net profit rose 23.31% to Rs 26.98 crore on a 61.38% fall in sales to Rs 184.81 crore in Q2 FY24 as compared with Q2 FY23.

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