Kanani down 7%, despite bonus issue plans

 The stock finally ended the day at its at the upper circuit of Rs 606. The counter clocked a volume of around 17 shares.
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Updated at 1253 Hrs

Kanani Industries has declined nearly 7% despite the company's announcement to consider issue of bonus shares.

The stock opened at Rs 584, and is now trading at Rs 551 - which is also the day's low. The counter has recorded thin volumes of just 50 odd shares so far on the BSE.

The company has issued a release to the BSE that the board of directors meet would be held on June 25, 2009, to approve the issue of bonus shares.