“This is to inform you that the meeting of Board of Directors of the Company is scheduled to be held on Tuesday, November 05, 2024, inter alia, to transact the following businesses: to consider issue of Bonus Shares to the Members of the Company,” said the company in a filing to the exchange.
The company will also approve the results for the second quarter ended September 2024 in their board meeting.
Prior to this, Bharat Seats had issued bonus shares in the ratio of 1:1 once in 2007, according to the data available on Trendlyne.
Companies typically issue bonus shares to utilize their free reserves, boost Earnings Per Share (EPS), and expand paid-up capital while reducing reserves. These shares, often called free shares, are distributed to shareholders at no extra cost.
The investors must purchase the stock before the ex-date to qualify for bonus shares, as those buying on or after the ex-date won’t be eligible.\Also read: Canara Bank Q2 Results: Net profit jumps 11% YoY to Rs 4,015 crore
The shares of Bharat Seats have increased by nearly 42% in the last one year and by 9.15% on a year-to-date basis. In the last 6 months, the stock has gone up by 11.32% but have declined by 11.5% in the last month alone, according to the BSE analytics.
On charts, the stock is placed above the 10-day EMA but below all other significant EMAs.
The shares of Bharat Seats were trading 7.7% higher at Rs 176.90 on the BSE around 1:15 pm.
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Content Source: economictimes.indiatimes.com