Motherson Sumi Systems has moved higher by over 5% at Rs 262 after the company said it is planning to issue free shares to existing shareholders.
The board of directors of the company will meet on November 01, 2013, to consider issue of bonus issue to existing shareholders, auto parts and equipment makers said in a statement.
The board will also consider unaudited financial results for the quarter ended September 30, 2013 (Q2), it added.
The stock opened at Rs 255 and touched low of Rs 250 so far on NSE. A combined around 500,000 shares change hands on the counter on NSE and BSE.
Earlier, in last year October 2012, the company had issued bonus shares in the ratio of 1:2 (1 share for 2 shares held).
In past one year, the stock has appreciated by 78% from Rs 150 on October 19, 2012 compared to less than 12% rise in benchmark index.
The board of directors of the company will meet on November 01, 2013, to consider issue of bonus issue to existing shareholders, auto parts and equipment makers said in a statement.
The board will also consider unaudited financial results for the quarter ended September 30, 2013 (Q2), it added.
The stock opened at Rs 255 and touched low of Rs 250 so far on NSE. A combined around 500,000 shares change hands on the counter on NSE and BSE.
Earlier, in last year October 2012, the company had issued bonus shares in the ratio of 1:2 (1 share for 2 shares held).
In past one year, the stock has appreciated by 78% from Rs 150 on October 19, 2012 compared to less than 12% rise in benchmark index.
