Bharat Gears trades ex-date for 1:2 bonus; stock zooms 20%

The management is cautiously optimistic of growth in Indian markets for automotive components, agricultural machinery and construction equipment

Shares of Bharat Gears soared 20 per cent to Rs 167.30 on the BSE in Tuesday’s intra-day trade. The stock of this auto ancillary company turned ex-date of 1:2 bonus issue and traded close to its record high level of Rs 173 (adjusted to bonus shares) per share, that it had touched on September 16.

Bharat Gears revised the record date for bonus issue of equity shares of the company to September 28 from September 13 to determine members entitled for the bonus equity shares in the ratio of 1:2, i.e. 1 bonus share of Rs 10 each, for