 "Motherson Sumi Systems gains 5% as board approves 1:2 bonus shares")
Shares of Motherson Sumi Systems have surged 5% to Rs 306 per share on the BSE in the afternoon after the company said its board approved bonus shares in the ratio of 1:2 on completing 25 years of the listing of its equity shares on stock exchanges.
“The board of directors of the company in their meeting held on September 7, 2018 considering the occasion of completing twenty five (25) years of listing of its equity shares on stock exchanges have recommended the issue of bonus shares in the ratio of 1 (one) bonus share against the 2 (two) existing equity shares,” Motherson Sumi Systems said in a regulatory filing.
However, the stock in past one year had underperformed the market by falling 11% as compared to 21% rally in the S&P BSE Sensex till Thursday.
“The board of directors of the company in their meeting held on September 7, 2018 considering the occasion of completing twenty five (25) years of listing of its equity shares on stock exchanges have recommended the issue of bonus shares in the ratio of 1 (one) bonus share against the 2 (two) existing equity shares,” Motherson Sumi Systems said in a regulatory filing.
However, the stock in past one year had underperformed the market by falling 11% as compared to 21% rally in the S&P BSE Sensex till Thursday.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%