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M&M, Vakrangee and two others to turn ex-bonus on Thursday

M&M, Balkrishna Industries, Vakrangee and Castrol India will turn ex-bonus in the ratios of 1:1 on Thursday.

SI Reporter  |  Mumbai 

A bonus of contention

Four stocks – (M&M), Balkrishna Industries, and – from the S&P BSE 200 index will turn ex-in the ratios of 1:1 on Thursday. The board of directors of the respective companies had announced shares in the ratio of 1:1 i.e. one share for every share held as on These companies have fixed December 23, 2017 as the for the purpose of determining members who would be entitled to the equity shares. Except, Castrol India, shares of M&M, and hit their respective new high after these companies announced that their respective board to consider issue.

These stocks have outperformed the market by gaining up to 41% (see table) against less than 3% gain in the benchmark S&P BSE Sensex during the period. Vakrangee, the largest gainer among the pack, has rallied 41% since November 2 from Rs 542 to Rs 762 after the company that its board will meet on November 13 to consider and approve issue of shares. The board recommended a issue by way of capitalization of reserves in the ratio of 1:1. Since November 8, the stock of the tyre company surged 39% from Rs 1,798 to Rs 2,504 on Tuesday.

Price on BSE in Rs Sensex gain
Name Price* 19/12/2017 % chg %
Vakrangee 542.00 761.55 40.51 0.78
Balkrishan Inds 1798.00 2504.00 39.27 1.86
M&M 1331.15 1554.50 16.78 0.45
Castrol India 399.25 422.80 5.90 2.08
*One day prior to company made annoucement

First Published: Wed, December 20 2017. 10:27 IST