Castrol India jumps 3% on bonus plans

The stock ended 3% higher at Rs 701. The counter clocked volumes of 500,000 shares on the BSE.
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(Updated at 1414hrs)

Castrol India has jump 3% to Rs 702, after the company announced that the board of directors will meet on February 18 to consider to bonus issue.

The stock opened at Rs 687 and touched high of Rs 724. As many as 413,000 equity shares have changed hands as compared to average 70,000 shares traded in last two-weeks.

The company had last issued bonus shares in 1999, in the ratio of 1:1 (one bonus equity share for every one share held). The company has total reserves of Rs 352 crore on equity capital of Rs 124 crore as on December 2008.

The company declares its financial results for full year ended December, 2009 on February 18, has posted 60% growth in net profit to Rs 96 crore during third quarter ended September 2009 as compared to Rs 60 crore net profit reported in same quarter of previous year.