Hercules Hoists has zoomed 16% to Rs 295 after the board of directors of the company has recommended bonus shares in the ratio of 1:1.
The board also recommended dividend at the rate of Rs 3.50 per equity share of Rs 1.00 each fully paid-up, subject to the approval of the shareholders in the Annual General Meeting of the company.
The stock opened at Rs 258 and hit a high of Rs 297 on the National Stock Exchange. As many as a combined 1.42 million shares have already changed hands on the counter so far, against an average 200,000 shares that were traded daily in past two weeks on both the exchanges.
