MindTree gains as board to consider bonus issue proposal

MindTree gained 1.67% to Rs 1,400 at 11:48 IST on BSE after the company said that its board of directors will consider a proposal for declaration of bonus shares tomorrow, 16 April 2014.

Meanwhile, the S&P BSE Sensex was down 173.27 points or 0.77% at 22,455.69

On BSE, so far 37,327 shares were traded in the counter as against average daily volume of 10,776 shares in the past one quarter.

The stock hit a high of Rs 1,453.45 and a low of Rs 1,395 so far during the day. The stock hit a record high of Rs 1,724.95 on 21 February 2014. The stock hit a 52-week low of Rs 782.70 on 17 June 2013.

The stock had underperformed the market over the past one month till 11 April 2014, falling 8.99% compared with the Sensex's 3.68% rise. The scrip also underperformed the market in past one quarter, sliding 16.44% as against Sensex's 9.01% rise.

The mid-cap company has an equity capital of Rs 41.79 crore. Face value per share is Rs 10.

MindTree on Monday, 14 April 2014, said that the company's board of directors will consider a proposal for declaration of bonus shares tomorrow, 16 April 2014 along with the audited financial results for the Q4 and year ended 31 March 2014 (FY 2014).

MindTree's consolidated net profit declined 31.2% to Rs 88.50 crore on 2.7% growth in net sales to Rs 790.60 crore in Q3 December 2013 over Q2 September 2013.

MindTree is a global information technology solutions company.

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