Pilani Investments surges 14%, hits 34-month high ahead of 2:5 bonus issue

The Company has fixed Saturday, January 2, as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of bonus shares of the company

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The stock was trading at its highest level since February 2018.
SI Reporter Mumbai
2 min read Last Updated : Dec 28 2020 | 2:10 PM IST
Shares of Pilani Investments and Industries Corporation soared 14 per cent to hit 34-month high of Rs 2,870 on the BSE in intra-day trade on Monday ahead of 2:5 bonus issue.

The stock will turn ex-date for bonus shares on Thursday, December 31. The stock was trading at its highest level since February 2018.

The company has fixed Saturday, January 2 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of bonus shares of the company in the ratio of 2:5 i.e. 2  equity shares for every 5 existing equity shares.

Pilani Investment is an investment company registered with Reserve Bank of India (RBI) as a non- banking financial company.

In the past three months, the stock has outperformed the market by zooming 82 per cent, as compared to a 25 per cent gain in the S&P BSE Sensex. It hit a record high of Rs 3,310 on September 21, 2017.

At 01:51 pm, the stock was up 10 per cent at Rs 2,770 on the BSE, against a 0.77 per cent gain in the S&P BSE Sensex. A combined 34,000 equity shares changed hands on the counter on the NSE and BSE.

Topics :Pilani InvestmentsBuzzing stocksMarkets

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