Moneycontrol Bureau
State-run oil exploration company Oil India shares gained 4 percent intraday to hit fresh 52-week high of Rs 444.20 Thursday ahead of board meeting for bonus issue.
"The board of directors would consider issue of bonus shares in the board meeting scheduled to be held on November 28, 2016," the company said in its filing.
On the same date, the board members will also approve unaudited financial results for the quarter and half year ended September 30, 2016 (Q2) on standalone basis.
Therefore, the trading window for insider trading will be closed between November 18-30 (both days inclusive), Oil India said.The last bonus issue, which was in the ratio of 3 shares for every 2 shares held, was announced by the company in 2012.
The Government of India holds 67.64 percent stake in the company that has 39 oil exploration blocks in India and 15 blocks globally.
At 09:23 hours IST, the stock was quoting at Rs 441.00, up Rs 13.75, or 3.22 percent on the BSE.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
