Infosys shares rally after company fixes record date for bonus issue

Shares of technology major Infosys on Monday added 3% after the company fixed the date for determining the eligible shareholders for one-for-one bonus issue. The Bangalore-based firm on Friday, after market closing, announced December 3 as the record date for allotment of bonus shares and dividend. Shares of Infosys gained 3%, or Rs 127.8 to Rs 4,274, a record high level.

In October, while announcing its second quarter earnings, Infosys had announced a bonus issue of one equity share for every equity share held.

Infosys had said that the bonus issue was to increase the liquidity and retail shareholder base.

As per September quarter shareholding data, Infosys has individual shares base of more than 350,000, who together hold about 52 million shares--10.66% of the total shareholding.