Motherson Sumi Systems has moved higher by over 5% at Rs 262 after the company said it is planning to issue free shares to existing shareholders.
The board of directors of the company will meet on November 01, 2013, to consider issue of bonus issue to existing shareholders, auto parts and equipment makers said in a statement.
The board will also consider unaudited financial results for the quarter ended September 30, 2013 (Q2), it added.
The stock opened at Rs 255 and touched low of Rs 250 so far on NSE. A combined around 500,000 shares change hands on the counter on NSE and BSE.
Earlier, in last year October 2012, the company had issued bonus shares in the ratio of 1:2 (1 share for 2 shares held).
In past one year, the stock has appreciated by 78% from Rs 150 on October 19, 2012 compared to less than 12% rise in benchmark index.
The board of directors of the company will meet on November 01, 2013, to consider issue of bonus issue to existing shareholders, auto parts and equipment makers said in a statement.
The board will also consider unaudited financial results for the quarter ended September 30, 2013 (Q2), it added.
The stock opened at Rs 255 and touched low of Rs 250 so far on NSE. A combined around 500,000 shares change hands on the counter on NSE and BSE.
Earlier, in last year October 2012, the company had issued bonus shares in the ratio of 1:2 (1 share for 2 shares held).
In past one year, the stock has appreciated by 78% from Rs 150 on October 19, 2012 compared to less than 12% rise in benchmark index.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
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%