Kanpur Plastipack rallied 13% at Rs 44.45 after the company's board of directors recommended a bonus issue in the ratio of 1:2.
“The board of directors of the company, at its meeting held on July 30, recommended issuance of bonus shares on existing equity shares in the ratio of one equity share for every two existing equity shares," the company said in a filing to the stock exchanges.
Meanwhile, the board also recommended a dividend at the rate of 10% or Rs 1 a share for the year 2010-11.
The trading volumes on the counter more than doubled, with 23,000 shares changing hands on the counter till 0957 hours.
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