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Bhuwalka Steel surges on fixing record date for bonus issue

Friday 15th Jul 2011 1352

Mumbai : Bhuwalka Steel Industries has surged 6% at Rs 55.50 after the company fixed July 22 as the record date for the bonus issue in the ratio of 1:1.

“The board of directors of the company has fixed July 22, 2011 as the record date for the purpose of ascertaining the eligibility of shareholders entitled to receive the bonus shares of the company in the ratio of 1:1 as approved by the shareholders through postal ballot on July 12, 2011," the company said in a filing to the stock exchanges.

The stock opened at Rs 55 and hit a high of Rs 56.90 on the BSE. Around 7,000 shares have changed hands on the counter till 1236 hours.

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