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.

Four stocks – Mahindra & Mahindra (M&M), Balkrishna Industries, Vakrangee and Castrol India – from the S&P BSE 200 index will turn ex-bonus in the ratios of 1:1 on Thursday.

The board of directors of the respective companies had announced bonus shares in the ratio of 1:1 i.e. one bonus share for every share held as on record date.

These companies have fixed December 23, 2017 as the record date for the purpose of determining members who would be entitled to the bonus equity shares.

Except, Castrol India, shares of M&M, Balkrishna Industries and Vakrangee hit their respective new high after these companies announced that their respective board to consider bonus 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 bonus shares. The board recommended a bonus issue by way of capitalization of reserves in the ratio of 1:1.

Since November 8, the stock of the tyre company Balkrishna Industries 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 bonus annoucement