At 10:40 AM; MOIL was trading at day’s lowest level of Rs 189, down 3% on BSE. Manpasand Beverages too down 3% at Rs 464 after hitting low of Rs 463 in intra-day trade.
These companies have fixed Thursday, September 28, 2017 as the record date for identifying the shareholders who shall be eligible to receive bonus shares.
The board of directors of MOIL and Manpasand Beverages at their respective meetings held on August 10, 2017, had recommended to issues bonus shares in the ratio of 1: 1; i.e. one equity share of Rs 10 each for every one fully paid up equity share held as on the record date.
Since August 10, post bonus announcements, Manpasand Beverages (up 22%) and MOIL (up 18%) had outperformed the market by gaining more than 15% as compared to a marginal 0.22% rise in the S&P BSE Sensex till Tuesday, September 26.