Maharaja Shree Umaid Mills has zoomed 15% to Rs 545 after the company announced bonus issue in the ratio of 2:1.
“The board of directors of the company at its meeting held on December 30, 2011, approved the issue of bonus equity shares in proportion of two new equity share of Rs 10 each for every one existing equity share of Rs 10 each held by the members through capitalisation of reserves," the company said in a filing to the stock exchange.
The board also approved to increase the authorised share capital of the company from Rs 10 crore, divided into 1 crore equity shares of Rs 10 each, to Rs 30 crore into 3 crore equity shares of Rs 10 each, it added.
Around 1,200 shares have changed hands on the counter in opening deals on the Bombay Stock Exchange.