In the current calendar year 2009 so far, 29 companies have declared bonus issues. Out of which the companies that announced the most liberal bonus ratio have seen a good surge in share prices.
Avance Technolgy zoomed the most, up around 73% after the declaration of the bonus share in the ratio of 4:1. The price of the stock jumped from Rs 37 to Rs 63 in a month's time.
Ind Tra Deco surged 72% after the company declared a healthy bonus issue of 2:3.
Veer Energy, VST Tillers, Indico Venture, Munoth Capital, Kanani Ind, Dolphin Offshore, Glodyne Technos and TCS have advanced 17-70% each.
TCS is the sole prominent company to have declared bonus shares so far this year.
However, there are a few exceptions, Anu's Lab slumped 26% after the declaration of the bonus in the ratio of 1:1. The price declined to Rs 27 as compared to Rs 37, as on 4th May, 2009, the day on which it was announced.
Others like Divis Lab, TRF, vishal Infotech and Orient Abrasive witnessed a 3-14% fall in the stock prices.
In last fortnight or so, 10 companies announced bonus issues, of which Jindal Steel declared the bonus in the ratio of 5:1 and the price slipped to Rs 2,862 as compared to Rs 3,117. The other companies are Ramco Industries, Falcon Tyres, Jaybharat Textiles, Tilaknagar Industries, Navneet Publications, Country Condos, Hiran Orgochem and Super Tannery.
|
Companies which declared bonus in 2009 |
Bonus Ratio
Date announced
% Chg in stock price after a month
