Borosil Glass Works gains 20% on bonus shares approval

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Shares of Borosil Glass Works gained 20 percent intraday Tuesday as board approved the issue of bonus shares.

The company board at its meeting held on June 18 has approved the issue of bonus shares in the ratio of 3:1 subject to approval of shareholders' and other authorities.

The board approved the withdrawal of scheme of amalgamation of Hopewell Tableware, Fennel Investment and Finance and Vyline Glass Works with Borosil Glass Works presently pending for approval from the National Company Law Tribunal (NCLT).

However, it approved the composite scheme of amalgamation and arrangement for amalgamation of Vyline Glass Works, Fennel Investment and Finance Private and Gujarat Borosil with company.

At 12:22 hrs Borosil Glass Works was quoting at Rs 1,037.20, up Rs 155, or 17.57 percent on the BSE.

Posted by Rakesh Patil