Balkrishna Industries extends rally post Q2 results; 1:1 bonus issue

The stock hit a record high of Rs 1,974, up 8%, extending its Thursday's 2% gain on the BSE in otherwise subdued market.

Balkrishna Industries hit a record high of Rs 1,974, up 8%, extending its Thursday’s 2% gain on the BSE in an otherwise subdued market after the board recommended 1:1 bonus share.

“The board has recommended for issue of bonus shares to the members of the company by capitalization of free reserves in the ratio of 1 (one) bonus equity share of Rs 2 each fully paid up for every 1 (one) existing equity share of Rs 2 each fully paid up (i.e. in the ratio 1:1),” Balkrishna Industries said in a statement.

The board also declared 2nd interim