You are here: Home » Markets » News
Business Standard

TCS hits record high after fixing record date for 1:1 bonus issue

The stock hit record high of Rs 3,585, up 2.4% after the company has fixed June 2, 2018 as the record date for determining the entitlement of members to receive bonus shares in the ratio of 1:1.

SI Reporter  |  Mumbai 

TCS

(TCS) hit a record high of Rs 3,585, up 2.4% on the BSE in otherwise subdued market, after information technology company fixed Saturday, June 2, 2018 as the for determining the entitlement of members to receive bonus shares in the ratio of 1:1.

The board of directors of at its meeting held on April 19, 2018 had recommended of equity shares in the ratio of 1 equity share of Re 1 each for every 1 equity shares of Re 1 each held by the shareholders of the company as on the

The bonus Shares, once allotted, shall rank pari-passu in all respects with and carry the same rights as the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the new equity shares are allotted, said in a BSE filing.

Since April 19, the stock has outperformed the market by surging 13.5% as compared to 1.5% rise in the S&P BSE Sensex.

At 09:34 am; was trading 2% higher at Rs 3,570 against 0.07% rise in the Sensex. A combined 401,147 equity shares changed hands on the counter on the NSE and BSE so far.


First Published: Mon, May 21 2018. 09:36 IST
RECOMMENDED FOR YOU