Shivalik Bimetal Controls to issue bonus shares
DSIJ Intelligence / 24 Aug 2017
With the announcement that the company is planning to issue bonus shares, the stock of Shivalik Bimetal Controls soared nearly to 6% intraday during Thursday’s trading session.
With the announcement that the company is planning to issue bonus shares, the stock of Shivalik Bimetal Controls soared nearly to 6% intraday during Thursday’s trading session.
As per a filing with the bourses, the company’s board of directors approved the issuance of a bonus share in the ratio of 1:1 (i.e. one bonus equity share of Rs 2 each for every one fully paid up equity share held, as on the record date) at a meeting held on Wednesday.
The stock was trading up by 5.93% at Rs 81 per share on the BSE at 0930 hours. It opened at Rs 81.80 per share and touched its intraday high and low at Rs 84 and Rs 79 per share, respectively. The stock’s 52-week high stood at Rs 84.60 and 52-week low was at Rs 29.50 per share. The company is engaged in manufacturing thermostatic bi-metal/tri-metal strips and parts and shunt (resistors).
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