Havells India board nod for 1:1 bonus

The board of directors of Havells India, which met today, approved a proposal to issue bonus shares in the ratio of 1:1.

According to a release issued by the company to the BSE today, the board also approved a dividend @ 50% i.e. Rs 2.50 per share of Rs 5 each) for FY05.

"The record date for the issue of bonus shares will be decided after the AGM to be held on July 20, 2005," the release added.

The stock zoomed to a high of Rs 390, but was trading with a gain of 7% (Rs 24) at Rs 376 on the BSE at 1345 hrs.