Hatsun Agro Product jumped 7.48% to Rs 838 after the company said its board will consider bonus share issue on 19 October 2020.
The board will meet on 19 October 2020 to consider the proposal for declaration of bonus shares on the fully paid up equity shares of the company. The board will set 29 October 2020 as the record date for determining the shareholders eligible to vote on the resolutions for issue of bonus shares.Further, the board will also consider raising funds through private placement of equity shares to qualified institutional buyers.
The scrip has zoomed 123.43% from its 52-week low of Rs 375.05 hit on 24 March 2020.
Hatsun Agro Product reported a 9.6% rise in net profit to Rs 56.1 crore in Q1 June 2020 from Rs 51.19 crore posted in Q1 June 2019. Revenue for operations for quarter ending 30 June 2020 stood at Rs 1,279.27 crore, falling 10.11% over Rs 1,423.22 crore in the same period last year.
Hatsun Agro Products is primarily engaged in the business of manufacture and marketing of ice cream and milk and dairy based products. The company sells its products under the brands Arun Icecreams, Arokya Milk, Hatsun Curd, Hatsun Paneer, Hatsun Ghee and Hatsun Dairy Whitener.
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