 "Indian Hume Pipe surges on bonus issue plan")
Indian Hume Pipe has surged 16% to Rs 778, also its 52-week high on BSE, after the company said the board will meet on October 26, to consider issue of bonus shares to existing shareholders.
‘The board of directors will consider the proposal for issue of bonus shares by capitalization of free reserves at their meeting to be held on October 26, 2016, subject to the approval of shareholders,” Indian Hume Pipe said in a statement.
Earlier on October 4, the company had informed BSE that the board will meet on October 26, to consider, the unaudited financial results for the 2nd quarter & 1st half-year ended September 30, 2016.
At 09:23 am, the stock was up 14% at Rs 765 on BSE, as compared to 0.67% rise in the S&P BSE Sensex. A combined 87,492 shares changed hands on the counter on the BSE and NSE so far.
‘The board of directors will consider the proposal for issue of bonus shares by capitalization of free reserves at their meeting to be held on October 26, 2016, subject to the approval of shareholders,” Indian Hume Pipe said in a statement.
Earlier on October 4, the company had informed BSE that the board will meet on October 26, to consider, the unaudited financial results for the 2nd quarter & 1st half-year ended September 30, 2016.
At 09:23 am, the stock was up 14% at Rs 765 on BSE, as compared to 0.67% rise in the S&P BSE Sensex. A combined 87,492 shares changed hands on the counter on the BSE and NSE so far.
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