The board of directors of Bharat Forge and Manpasand Beverages have recommended issuing bonus shares to holders of equity shares of the companies in the ratio of 1:1 i.e. one bonus equity share for every one fully paid-up equity shares held.
BHEL, the state-owned company, recommended issue of bonus shares to the members of the company by capitalisation of its free reserves in the ratio of 1 bonus equity share for every 2 existing equity shares.
BEL approved the proposal for issue of bonus shares in the ratio of 1:10 i.e. one bonus share for every 10 shares held.
Except, Manpasand Beverages (up 2% at Rs 784), the remaining three stocks BHEL (down 4% at Rs 128), BEL (down 4% at Rs 173) and Bharat Forge (down 1% at Rs 1,154) failed to cheer after bonus announcements, falling by up to 4% on BSE. On comparison, the S&P BSE was down 0.73% at 31,567 points at 02:45 pm.