Cheviot Company gains 4% on bonus issue approval

Share price of Cheviot Company added 4 percent intraday Tuesday as company approved issue of bonus shares.

A board of directors of the company at its meeting held today has recommended issuance of bonus shares in the ratio of 1 fully-paid up bonus ordinary share for every existing 2 fully paid-up ordinary shares of face value of Rs 10 each held by the shareholders of the company.

The bonus issue subject to approval of the members at the ensuing annual general meeting.

At 12:08 hrs Cheviot Company was quoting at Rs 1,450.10, up Rs 28.35, or 1.99 percent on the BSE.

The share touched its 52-week high Rs 1,735 and 52-week low Rs 1,070 on 25 January, 2018 and 29 September, 2017, respectively.

Currently, it is trading 16.73 percent below its 52-week high and 35.03 percent above its 52-week low.