Bonus issue booster for Aftek Infosys

DALAL STREET SPIKES

Mid-cap IT company Aftek Infosys ended over three per cent higher on the company's announcement that the board would meet on November 27, 2004, for shareholders' approval for a bonus issue.

The stock, in intra-day trades, hit a high of Rs 148 which was also a new high. Prior to Friday's trading, the stock surged 14.8 per cent from a low of Rs 118.95 on November 12 to close at Rs 135.10 on Friday.

For the first quarter ended September 2004, Aftek posted a 11 per cent growth in net profit to Rs 14.5 crore.

The company has a paid-up equity capital of Rs 10 crore. Sources said a sharp surge in the stock price in the past few days indicates that the market was aware of some positive development at the counter.

More than 6.2 lakh shares were traded at the counter on BSE on Friday.