Kamanwala hits upper circuit on bonus issue date

DALAL STREET SPIKES

Kamanwala Housing Construction hit the 10 per cent upper circuit today to close at Rs 103.70 after the company announced that September 22, 2008, will be the record date for the issue of bonus shares in the proportion of one equity share for every one existing share held.

The shareholders had approved the issue of bonus at the company’s 24th AGM held on September 5. After opening 2.86 per cent higher at Rs 97, the stock touched an intraday low of Rs 95. The counter witnessed trading volumes of 33,476 shares (over five times its two-week average) with delivery volumes of 67 per cent.