Gruh Finance gains 6% post Q4 results; 1:1 bonus issue

The stock rallied 6% to Rs 652 on the BSE in intra-day trade after the board recommended the issue of bonus shares in the ratio of 1:1 and dividend of Rs 3.3 per equity share

Gruh Finance has rallied 6% to Rs 652 on the BSE in intra-day trade after the board of directors recommended the issue of bonus shares in the ratio of 1:1 i.e. one equity share for every one equity share held on the record date.

The board also recommended dividend of Rs 3.30 per equity share of face value of Rs 2 each for the financial year ended March 31, 2018.

Gruh Finance, a subsidiary of Housing Development Finance Corporation (HDFC), has reported 18% year on year growth in net profit at Rs 1,305 million in January-March quarter (Q4FY18).