Borosil Glass Works zooms 20% after its board approves 3:1 bonus issue

The stock is locked in upper circuit of 20% at Rs 1,064, also its 52-week high on the NSE after the company said its board approved issue of bonus shares in the ratio of 3:1.

Shares of Borosil Glass Works are locked in upper circuit of 20% at Rs 1,064 per share, also their 52-week high on the National Stock Exchange (NSE) after the company said its board has approved issue of bonus shares in the ratio of 3:1 (i.e. 3 equity shares to be issued for every one equity share held).

The company announced the withdrawal of scheme of amalgamation of Hopewell Tableware Private, Fennel Investment and Finance Private, and Vyline Glass Works with Borosil Glass Works, presently pending for approval from the National Company Law Tribunal (NCLT).

Till 09:17 am; a combined 34,327 shares changed hands and there were pending buy orders for 33,842 shares on the NSE and BSE.