BSE shares surge 10% on bonus issue plan; stock doubles in 6 months

BSE announced that its board will meet on February 8, 2022 to consider bonus issue.

Shares of BSE surged 10 per cent to Rs 2,028 on the National Stock Exchange (NSE) in Tuesday’s intra-day trade, after the company announced that its board will meet on February 8, 2022 to consider a bonus issue.

“A meeting of the board of directors is scheduled to be held on Tuesday, February 8, 2022 to inter alia, consider and approve the unaudited financial results (standalone and consolidated) of the Company for the quarter and nine months ended December 31, 2021,” BSE said in exchange filing on Monday after market hours.

The board of directors shall, inter-alia, also consider, the proposal for issue of bonus shares at the aforesaid meeting, subject to requisite approvals, the company said.

At 09:32 am; shares of BSE were traded at Rs 1,977.55 on the NSE. In comparison, the Nifty50 index was up 0.67 per cent at 17,200 points. Around 862,301 equity shares changed hands on the counter on the NSE. The stock had hit a record high of Rs 2,373.70 on December 15, 2021.

In the past one month, the stock of BSE has outperformed the market by surging 30 per cent, against 1.1 per cent rise in the Nifty50 index. In three months, it has rallied 55 per cent, as compared to 3 per cent decline in the benchmark index. In the past six six months, BSE stock has soared 113 per cent and has zoomed 219 per cent in the past one year. During this period, the Nifty50 index has moved up 9.5 per cent and 22 per cent, respectively.