Shares of Captain Pipes jumped 10% to Rs 602 for the second straight day, also hitting a record high on the BSE at 12:02 pm on Thursday following the announcement of the bonus issue and share split proposal.

Shares of the industrial plastic products maker have doubled or 100% from Rs 300 levels in the last 15 trading sessions since December 13, 2022. In contrast, the S&P BSE Sensex fell 0.54% to 59,781 points.

On Tuesday, January 10, 2023, Captain Pipes announced that the company’s Board of Directors would meet on January 27 to consider a proposal for a subdivision/split of the company’s equity share capital at a face value of Rs 10 per share. The board will also consider issuing bonus shares to the company’s shareholders.

Captain Pipes is working in the Small and Medium Enterprises (SME) business in Group ‘M’ of the BSE. The trading, clearing and settlement of the SME segment are carried out on a T+2 basis. Transactions in BSE SME stocks must be settled in demat mode mandatory. The market lot size for a stock is 500 shares.

As of September 30, 2022, Capitan Pipes has a low outstanding share capital of 4.55 million shares. The promoters hold 73.82% of the company’s shares. The remaining 26.18% of shares are held by individual shareholders (21.57%), Polymer Impex Private Limited (3.33%) and Bodies Corporate (0.69%), the data showed.

Captain Pipes has a production facility in Shapar (Veraval), Rajkot, to manufacture and sell UPVC pipes and fittings.