Madras Cements firms up on bonus issue date

DALAL STREET SPIKES

Madras Cements on Wednesday rose by 4.67 per cent to close at Rs 2,633.05 after the company announced that its board has fixed October 10 as the record date for a 1:1 bonus issue and a 10-for-1 stock split. The company fixed the record date on Tuesday after the market hours.

The stock hit an intraday high of Rs 2,677 and a low of Rs 2,500. The counter witnessed volumes of 1,560 shares (twice its two-week average) with delivery volumes of 89 per cent. The stock hit a 52-week high of Rs 5,039.85 on October 31, 2007, and a 52-week low of Rs 2,301 on June 9.