Fiberweb (India) advances after setting record date for bonus issue

Fiberweb (India) gained 3.32% to Rs 365.60 at 14:45 IST on BSE after the company fixed 18 January 2018 as the record date issue of bonus shares.

The announcement was made during market hours today, 8 January 2018.

Meanwhile, the S&P BSE Sensex was up 185.53 points or 0.54% at 34,339.38. The S&P BSE Small-Cap index rose 201.24 points or 1.02% at 19,906.16

On the BSE, 1.14 lakh shares were traded on the counter so far as against the average daily volumes of 92,000 shares in the past two weeks. The stock had hit a high of Rs 372 and a low of Rs 355 so far during the day. The stock had hit a record high of Rs 389 on 16 May 2017 and a 52-week low of Rs 170 on 5 January 2017.

The small-cap company has equity capital of Rs 14.40 crore. Face value per share is Rs 10.

It may be recalled that board of directors of Fiberweb (India) at its meeting held on 5 December 2017 had recommended issue of bonus shares in the proportion of 1:1, i.e. one bonus share for every one share held as on record date.

Fiberweb (India) makes and exports garbage bags and carrier bags.

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