 "Engineers India extends gain on 1:1 bonus issue")
Engineers India rose 4% at Rs 276 on BSE in intra-day trade, extending its Thursday’s 2% gain, after the company recommended issue of bonus shares in the ratio of 1:1 ( i.e. one new equity share every one existing equity shares).
The state-owned company reported 22% jump in net profit at Rs 94 crore for the second quarter ended September 30, 2016 (Q2FY17), as against Rs 77 crore in the same quarter last year. Total income from operations, however, declined 25% to Rs 334 crore on year on year basis.
At 10:13 am, the stock was up 3% at Rs 275, trading nears to its 52-week high of Rs 279 touched on October 25, 2016 in intra-day trade. A combined 1.14 million shares changed hands on the counter on BSE and NSE so far.
The state-owned company reported 22% jump in net profit at Rs 94 crore for the second quarter ended September 30, 2016 (Q2FY17), as against Rs 77 crore in the same quarter last year. Total income from operations, however, declined 25% to Rs 334 crore on year on year basis.
At 10:13 am, the stock was up 3% at Rs 275, trading nears to its 52-week high of Rs 279 touched on October 25, 2016 in intra-day trade. A combined 1.14 million shares changed hands on the counter on BSE and NSE so far.