BS spurts after setting record date for bonus issue

BS surged 8.47% to Rs 274.60 at 14:50 IST on BSE after the company said it has fixed 1 October 2013 as the record date for 1:1 bonus issue of shares.

The announcement was made after market hours on Friday, 20 September 2013.

Meanwhile, the S&P BSE Sensex was down 379.22 points or 1.87% at 19,884.49.

On BSE, 35,000 shares were traded in the counter as against average daily volume of 36,987 shares in the past one quarter.

The stock hit a high of Rs 279.80 and a low of Rs 252 so far during the day. The stock had hit a 52-week high of Rs 356.90 on 25 February 2013. The stock had hit a 52-week low of Rs 170 on 20 November 2012.

The stock had underperformed the market over the past one month till 20 September 2013, sliding 8% compared with the Sensex's 11.06% jump. The scrip had also underperformed the market in the past one quarter, declining 12.16% as against Sensex's 8.25% rise.

The small-cap company has equity capital of Rs 21.93 crore. Face value per share is Rs 10.

BS' consolidated net profit rose 14.5% to Rs 15.25 crore on 44.9% growth in net sales to Rs 506.93 crore in Q1 June 2013 over Q1 June 2012.

BS is engaged in the power transmission & distribution and telecom passive infrastructure businesses.

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