VST Tillers touches new high, gains 4%

The stock finally ended at Rs 353, up 4%. It has gained 20% in the last week. The counter clocked comparatively heavy volumes of 25,487 shares compared to its two-week daily average trades of 16,417 shares on the BSE.
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(Updated at 11 58hrs)

VST Tillers Tractors has zoomed to a fresh all-time high on the back of a generous bonus plan and dividend.

The stock has soared around 32% in less than a month after the company declared a bonus issue and a healthy dividend on 26 June, 2009. The company recommended the distribution of the bonus in the ratio of 1:2, i.e. one share for every two shares held in the company.  A good dividend of 75% was also announced, i.e. Rs 7.50 per equity share.

The stock today opened at Rs 354, touched a low of Rs 340 and a high of Rs 359. The scrip is now at Rs 357, up 5% from the previous close. Only 7,651 shares have been traded on the BSE so far. The stock has soared over 21% in the last one week alone.

For the quarter ended 31 March, 2009, the company reported 29.5% jump in Q4 net profit at Rs 10.53 crore as against Rs 8.13 crore in the corresponding quarter a year ago. Net Sales rose 17.2% to Rs 81.51 crore from Rs 69.55 crore.