M&M board recommends 1:1 bonus

Mahindra & Mahindra (M&M) board has recommended issue of bonus shares to the equity shareholders and will seek shareholders approval in its forthcoming AGM to be held on July 28, 2005.

According to a M&M notice issued to the BSE, the board has recommended bonus shares in a ratio of 1:1 (i.e. one bonus share(s) for every one ordinary share(s) held by the shareholders of the company).