GM Breweries gains after its board recommends 1:4 bonus issue

GM Breweries rose 3.97% to Rs 1,067 at 10:10 IST on BSE after the board of directors of the company at a meeting held yesterday, 5 April 2016, recommended a 1:4 bonus issue.

The announcement was made after market hours yesterday, 5 April 2016.

Meanwhile, the S&P BSE Sensex was up 43.14 points or 0.17% at 24,926.73.

On BSE, so far 33,968 shares were traded in the counter as against average daily volume of 34,932 shares in the past one quarter. The stock hit a high of Rs 1,150 and a low of Rs 1,061.25 so far during the day. The stock hit record high of Rs 1,160.25 on 8 January 2016. The stock hit a 52-week low of Rs 106.10 on 19 June 2015.

The mid-cap company has equity capital of Rs 11.70 crore. Face value per share is Rs 10.

GM Breweries' net profit jumped 204.54% to Rs 17.42 crore on 17.71% rise in total income to Rs 91.72 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 5 April 2016. GM Breweries' board of directors at its meeting also proposed for the approval of shareholders a dividend of Rs 2.50 per share for the year ended 31 March 2016 (FY 2016).

GM Breweries is engaged in manufacturing and marketing of alcoholic beverages such as Country Liquor (CL) and Indian made Foreign Liquor (IMFL).

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