Oct 17, 2016 12:19 PM IST IST | Source: Moneycontrol.com

Vishal Bearings rises 5%, board approves 1:4 bonus issue

The company in its meeting held on October 15, has decided to issue bonus shares to shareholders of the company in the proportion of 1:4, subject to the approval of the members.

Moneycontrol Bureau

Share price of Vishal Bearings rose 5 percent intraday Monday as it has approved the bonus share issue to the shareholder in the company.

The company in its meeting held on October 15, has decided to issue bonus shares to shareholders of the company in the proportion of 1:4, subject to the approval of the members.

It has also decided to increase in authorised share capital from existing Rs 5,00,00,000 to Rs 10,00,00,000 and consequently alteration in capital clause of memorandum of association.

The company's extra-ordinary general meeting of the company schedule to be held on November 14, 2016.

At 09:30 hrs Vishal Bearings was quoting at Rs 30.50, up Rs 1.50, or 5.17 percent on the BSE.

Posted by Rakesh Patil
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