 "Kanpur Plastipack rallies on bonus issue plan")
Kanpur Plastipack has moved higher by 16% to Rs 171 on the BSE after the company announced that the board will meet on July 29 to consider issue of bonus shares.
“A meeting of board of directors of the company will be held on July 29, 2016, to consider, approve and take on record financial results for the quarter ended on June 30, 2016 and to consider authorization to issue bonus shares by way of capitalization of reserves,” Kanpur Plastipack said in a BSE filing.
Earlier, in November 2011, the company issued bonus shares in the ratio of 1:2 i.e 1 bonus share of Rs 10 each for every existing 2 fully paid-up ordinary shares of Rs 10 each.
At 02:27 PM, the stock was up 14% at Rs 167 on the BSE, as compared to 0.06% rise in the S&P BSE Sensex. Around 75,000 shares changed hands on the counter so far against an average less than 10,000 shares that were traded daily in past two weeks on the BSE.
“A meeting of board of directors of the company will be held on July 29, 2016, to consider, approve and take on record financial results for the quarter ended on June 30, 2016 and to consider authorization to issue bonus shares by way of capitalization of reserves,” Kanpur Plastipack said in a BSE filing.
Earlier, in November 2011, the company issued bonus shares in the ratio of 1:2 i.e 1 bonus share of Rs 10 each for every existing 2 fully paid-up ordinary shares of Rs 10 each.
At 02:27 PM, the stock was up 14% at Rs 167 on the BSE, as compared to 0.06% rise in the S&P BSE Sensex. Around 75,000 shares changed hands on the counter so far against an average less than 10,000 shares that were traded daily in past two weeks on the BSE.