Sundaram Finance at record high on bonus issue plans

The board announces the bonus issue in the ratio of 1:1.

Sundaram Finance has soared 10% to Rs 910 after announcing the bonus issue plans in the ratio of 1:1.

“The board of directors of the company at its meeting held on October 26, has recommended the issue of bonus shares to the shareholders in the proportion of one equity share for every equity share held by them subject to the approval of the shareholders” Sundaram Finance said in a filing.

The stock opened at Rs 830 and hit a low of Rs 822 on the BSE. A combined 210,627 shares have changed hands on the counter in late noon deals on both the exchanges.