Engineers India gains on bonus issue plan
The stock up 5% to Rs 264 after the company said that the board will meet on Nov 16, to consider the issue of bonus shares.
 "Engineers India gains on bonus issue plan")
Engineers India (EIL) has moved higher by 5% to Rs 264 on BSE in intra-day trade after the state-owned company said that the board will meet on November 16, to consider a bonus issue.
“A meeting of the board of directors of the company will be held on November 16, 2016, to consider and approve un-audited financial results of the company for the second quarter ended on September 30, 2016 (Q2),” EIL said in a BSE filing.
The EIL's board of directors may consider the issue of bonus shares in the above said board meeting, it added.
Earlier in 2010 & 1999, the company issued bonus shares in the ratio of 2:1 each.
At 10:59 am, the stock was up 4% at Rs 261 on BSE, as compared to 0.04% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 3.35 million shares changed hands on the BSE and NSE so far.
“A meeting of the board of directors of the company will be held on November 16, 2016, to consider and approve un-audited financial results of the company for the second quarter ended on September 30, 2016 (Q2),” EIL said in a BSE filing.
The EIL's board of directors may consider the issue of bonus shares in the above said board meeting, it added.
Earlier in 2010 & 1999, the company issued bonus shares in the ratio of 2:1 each.
At 10:59 am, the stock was up 4% at Rs 261 on BSE, as compared to 0.04% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 3.35 million shares changed hands on the BSE and NSE so far.