Indianconstructionindustry news alert:Back Triton Valves locked 20% on bonus issue plans

Mumbai : Triton Valves is locked at its upper limit of circuit filter of 20% Rs 1,875 after the board recommended issue of bonus shares in the ratio of 2 equity shares for every one equity share held by the shareholders.The board has recommended dividend at the rate of Rs 20 per share (200%) for the year ended March 2010, as against Rs 15 per share (150%) dividend paid for last year. The company posted 69% y-o-y jump in net profit to Rs 5 crore for FY10, while net sales increased by 17% to Rs 91 crore (Rs 78 crore) during the fiscal ended April 2010.

The stock opened at maximum upper limit of the day at Rs 1,875 and has seen 4,054 equity shares change hands so far, as compared to an average 852 shares were traded in last two weeks.

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