Nitin Fire Protection soars on bonus issue plans

Nitin Fire Protection has soared 16% at Rs 125 after the company announced bonus issue plans.

“The board of directors of the company will meet on August 11, 2011, to consider and approve the issue of bonus shares, if any," the company said in a filing on the stock exchanges.

The board will also consider and approve audited financial results for the quarter and year ended on June 30, 2011, it added.

The stock opened at Rs 114 and hit a high of Rs 126 on the NSE. The trading volumes on the counter more than doubled, with 1.23 million shares changing hands on the NSE and BSE till 1000 hours.