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Gail (India) hits fresh 52-week high ahead of bonus issue

In past two months, the stock outperformed the Sensex by rising 23% against 8.5% rise in Sensex

Gail
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SI Reporter Mumbai
Gail (India) hit a fresh 52-week high of Rs 534, up 2% on BSE in an otherwise subdued market as the stock will turn ex-bonus in the ratio of 1:3 on Thursday.

The board of directors of the state-owned company at their meeting held on January 25, 2017 had recommended the issuance of one bonus share of Rs 10 for existing three equity shares of Rs 10 each fully paid up.

The company has fixed March 11, 2017 as record date for the purpose of allotment of bonus shares, Gail India said in a regulatory filing.

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