Kothari Products soars 20% on bonus issue plan
The board has recommended bonus shares in the ratio of 2 bonus equity shares for every 1 existing equity share.
Kothari Products is locked in upper circuit of 20% at Rs 465, extending its previous day’s 12% rally, after its board has recommended the issue of bonus shares in the ratio of 2 (two) bonus equity shares for every 1 (one) existing equity share.
Meanwhile, the company has reported nearly seven-fold jump in net profit at Rs 65.76 crore for the third quarter ended December 31, 2013 (Q3), on back of strong operational performance. The company had profit of Rs 9.72 crore in the same quarter previous fiscal.
Total income from operations of the company grew 1.5% year-on-year (yoy) at Rs 934 crore, while total expenditure declined by 4.4% at Rs 865 crore on yoy basis.
At 0945 hours, around 16,000 shares changed hands on the counter and there are pending buy orders for 500 shares on the BSE.
Meanwhile, the company has reported nearly seven-fold jump in net profit at Rs 65.76 crore for the third quarter ended December 31, 2013 (Q3), on back of strong operational performance. The company had profit of Rs 9.72 crore in the same quarter previous fiscal.
Total income from operations of the company grew 1.5% year-on-year (yoy) at Rs 934 crore, while total expenditure declined by 4.4% at Rs 865 crore on yoy basis.
At 0945 hours, around 16,000 shares changed hands on the counter and there are pending buy orders for 500 shares on the BSE.