Bharat Seats jumps on payout move

DALAL STREET SPIKES

Bharat Seats soared almost 10 per cent from Rs 91.85 to Rs 101, its intraday high. About 5,100 shares were traded on the counter, as against a two-week average of 2,718.

The surge came on the back of an announcement by the company's board to consider an issue of bonus shares, a stock split from the present face value of Rs 10 a share, and a dividend payout, if any for the year ended March 31.

Bharat Seats manufactures automobile seating systems for cars and motorcycles and moulded carpets. It has Maruti Udyog and Suzuki Motorcycle India among its key clients. Since February 21, the stock has been on a downward spiral.