Balmer Lawrie and Company soars 10.5% on bonus issue buzz

Balmer Lawrie and Company surged 10.5 percent intraday on Thursday on buzz of bonus issue. A meeting of the board of directors of the company will be held on March 26 to consider declaration of bonus shares.

The last bonus that Balmer Lawrie and Company had announced was in 1990 in the ratio of one share for every two shares held by shareholders. At 11:47 hours IST, the stock was up 6.85 percent to Rs 618.50 amid large volumes on Bombay Stock Exchange. The share touched its 52-week high Rs 710.00 and 52-week low Rs 534.00 on 22 February, 2013 and 29 March, 2012, respectively.  Currently, it is trading 12.89% below its 52-week high and 15.82% above its 52-week low.