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Kranti Ind board recommends 1:5 bonus issue

Capital Market 

The board of Kranti Industries on Tuesday recommended issuing one bonus share for every five fully paid-up equity shares held (1:5).

On the technical front, the stock's RSI (relative strength index) stood at 64.294. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading between its 50-day moving average (DMA) placed at 17.64 and its 200-day moving average (DMA) placed at 27.10.

Kranti Industries produces and distributes metal products. The firm offers axle, transmission, automotive, and other parts and components.

Shares of Kranti Industries dropped 6.17% to Rs 22.05 on BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, April 07 2021. 10:13 IST