 "Aurobindo Pharma turns ex-bonus; stock hits new high")
Shares of Aurobindo Pharma have gained nearly 2% at Rs 771, also their new highs on the National Stock Exchange (NSE), during intra-day trades in an otherwise subdued market.
The stock of drug maker turned ex-bonus today in the ratio of 1:1 i.e. one equity share for every one equity share held in the company.
The stock of drug maker turned ex-bonus today in the ratio of 1:1 i.e. one equity share for every one equity share held in the company.
The company has fixed July 21, 2015 as the record date for the purpose of ascertaining the entitlement of the shareholders for issue and allotment of bonus shares in the ratio of 1:1, Aurobindo Pharma said in a regulatory filing.
The stock has rallied 16% after the board of directors of the company recommended bonus shares at its meeting held on May 28, 2015, compared to a 3.5% rise in CNX Nifty till yesterday.
The stock opened at Rs 764 and has touched a low of Rs 753 on the NSE so far. A combined 534,505 shares changed hands on the counter on the NSE and BSE.
At 10:31 AM, the stock was up 1.3% at Rs 768 on the NSE.