Colgate-Palmolive has moved higher by 3% at Rs 955 after the company said that the board will consider issue of bonus shares at the appropriate time.
“As regards to the issue of bonus shares, the chairman said that the board would consider issue of bonus shares at the appropriate time,” the fast moving consumer goods company said in the annual general body meeting.
The company has general reserves of Rs 250 crore on equity capital of Rs 13.60 crore as on March 31, 2011. Last time, in 1993, the company had issued bonus shares in the ratio of 1:1.
The stock opened at Rs 930 and hit a high of Rs 958 on the Bombay Stock Exchange (BSE). A combined 30,975 shares have changed hands on the counter till 1110 hours.