Techno Electric & Engineering surges on bonus issue plan

The stock surged 9% to Rs 630 after the company said that board will meet on July 14 to consider issue of bonus shares.

Techno Electric & Engineering Company has surged 9% to Rs 630, also its 52-week high on the BSE, after the company announced that the board will meet on July 14 to consider issue of bonus shares.

A meeting of the board of directors of the company will be held on July 14, 2016, to consider issue of bonus shares, Techno Electric & Engineering Company said in a BSE filing.

At 09:18 AM, the stock was up 7% at Rs 621 on the BSE. A combined 5,515 equity shares changed hands on the counter on the BSE and NSE so far.