India Motor Parts & Accessories (IMPAL) has surged 10% to Rs 735 on announcing bonus issue plans.
“The board of directors of the company will meet on July 26, 2012, to consider capitalisation of reserves and issue of bonus equity shares,” IMPAL said in a regulatory filing.
The board will also consider and take on record the unaudited financial results of the company for the quarter ended June 30, 2012, it added.
The company has equity capital of Rs 4.16 crore and reserve (excluding revaluation reserve) of Rs 153 crore as on March 31, 2012. Earlier, in 2005, the company had issued bonus shares in the ratio of 1:1.
The stock opened at Rs 690 and hit 52-week high of Rs 761 on the National Stock Exchange. A combined 7,400 shares have changed hands on the counter so far on both the exchanges.
