AgenciesNew Delhi: State-run gas transmission player (India) announced the issuance of bonus shares to eligible shareholders on Wednesday.
The PSU Maharatna has announced the bonus issue in a 1:2 ratio, which means investors will get one share with a face value of Rs 10, for every two shares held by them.
Following the development, shares of GAIL (India) rose over 2 per cent to Rs 146.8 as of 3.00 pm. The scrip had settled at Rs 143.90 on Tuesday.
The bonus issue is subject to approval from shareholders of the company at the 38th annual general meeting (AGM), which is slated to be held on August 26, 2022.
On July 22, the company had informed the bourses that its board would meet on Wednesday to consider the issue of bonus shares and the proposal was duly approved by the company board.
The PSU Maharatna has announced the bonus issue in a 1:2 ratio, which means investors will get one share with a face value of Rs 10, for every two shares held by them.
Following the development, shares of GAIL (India) rose over 2 per cent to Rs 146.8 as of 3.00 pm. The scrip had settled at Rs 143.90 on Tuesday.
The bonus issue is subject to approval from shareholders of the company at the 38th annual general meeting (AGM), which is slated to be held on August 26, 2022.
On July 22, the company had informed the bourses that its board would meet on Wednesday to consider the issue of bonus shares and the proposal was duly approved by the company board.
Experience Your Economic Times Newspaper, The Digital Way!
Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Pick the best stocks for yourself
Powered by