Sindhu Trade Links will issue free shares in a ratio of 2:1

The Board of Sindhu Trade Links has recommended the free issue of shares in a ratio of 2:1.

The company proposes to allocate to existing shareholders 2 free shares of capital for 1 existing paid-up share held by them on a closing date, to be set for this purpose.

The announcement was made during market hours today.

Sindhu Trade Links is active in the transport services sector, as well as in the trading of petroleum and lubricants. Its subsidiaries are involved in media, automobiles and spare parts, bio-energy generation and coal mining operations.

The company reported a consolidated net profit of Rs 28.22 crore in the quarter ended December 2021 compared to a net loss of Rs 8.94 crore in the previous quarter ended December 2020. Sales increased by 36.24 % YoY to reach Rs 281.50 crore in Q3 FY22.

The certificate rose by 0.43% to currently trade at Rs 128.80 on BSE.

Over the past six months, the stock has climbed 251.23% while the benchmark Sensex has lost 1.11% over the same period.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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