Venkys shares zoom nearly 19% on bonus issue announcement

Shares of packaged foods maker Venkys India zoomed nearly 19 per cent today as the company's board recommended bonus issue of equity shares in the ratio of one equity share for every two equity shares held.
The stock surged 18.66 per cent to settle at Rs 506.80 on the BSE. During the day, it soared 20 per cent to Rs 512.50.
At NSE, shares of the company jumped 18 per cent to Rs 506.10.
Venkys India in a filing to BSE said its board of directors in today's meeting have considered and recommended bonus issue of equity shares in the ratio of one equity share for every two equity shares held, as on the record date to be determined by the board.

The bonus issue of equity shares will be subject to approval by the shareholders, through postal ballot and the record date will be announced separately.
Venkys India was established mainly to produce day-old layer and broiler chicks for the dense poultry markets of North India.