Wheels India rallies 30% in two days as company mulls bonus issue plan

The stock hit a new high of Rs 2,690, up 11%, surging 30% in past two trading sessions after the company said its board will consider a bonus issue proposal in their meeting on Friday, June 22, 2018.

Shares of Wheels India hit a new high of Rs 2,690 per share, rising 11% from its previous close. The stock has surged 30% in past two trading sessions after the company announced that its board will consider a bonus issue proposal in their forthcoming board meeting on Friday, June 22, 2018.

“With reference to the earlier letter dated June 08, 2018 regarding a board meeting of the Company is scheduled to be held on June 22, 2018, Wheels India Ltd has now informed BSE that the board of directors of the Company may consider Issue of bonus shares