Shares of Hindustan Zinc surged over 3 per cent on the Bombay Stock Exchange (BSE) today, after the company announced that its board will consider bonus issue and stock split at its board meet on January 19.
Bolstered by the move, the stock surged by 5.88 per cent on the BSE and recorded its all-time high of Rs 1,415.75 during the intra-day session. Later, the stock ended 3.19 per cent higher at Rs 1,379.75.
Smart buying was also seen at the company's counter on the National Stock Exchange where the scrip settled at Rs 1,376.70, up 2.87 per cent.
In a filing to the stock exchange, Hindustan Zinc said, "The company would consider sub-division of existing equity shares of Rs 10 each and issue of bonus shares at its board meet on January 19, 2011."
Meanwhile, in the last two trading sessions the stock had seen a decline of 1.66 per cent.
The BSE barometer Sensex closed lower by 27.78 points at 19,196.34.
