Bonus fuels Investment & Precision

DALAL STREET SPIKES

Investment & Precision Casting jumped 20 per cent to Rs 1,010.40 on the company's bonus issue plan. The board has considered issuing bonus in the ratio 3:1.

Even though the stock has been a thinly traded one with average volumes of just 2,556 shares for the past year, a total of 20,400 shares were traded on the BSE.

The company caters to the premium segment of the investment casting industry, with the automotive industry accounting for 80 per cent of its domestic business.

The company has set up a 100 per cent owned subsidiary as an export oriented unit . Commercial production from this new unit is expected to commence in the second half of 2005-06.