IRCON shares gain after board's nod to issue bonus shares in ratio of 1:1
- The record date will be announced in due course, the company said.
IRCON International announced that its board of Directors at its meeting held on Monday have approved and recommended the issuance of fully paid up Bonus Shares in the ratio of 1: 1 (i.e. 1 (one) fully paid up equity share for every 1 (one) fully paid up equity share held.
IRCON International share price were trading around 2.3% higher at ₹91 per share on the BSE at 11:19 am.
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The record date will be announced in due course, the company said in an exchange filing.
The company said that the bonus equity shares will be issued out of free out of reserves of the company available as on 31 March, 2020.
Mini-ratna public sector enterprise Ircon International had reported a 35% jump in its profit after tax to ₹103 crore in the December quarter. As of December 31, 2020, the company's total order book stood at ₹32,814 crore - Rs30,709 crore for railway projects and ₹2,105 crore for highway projects.
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