The share price of SBC Exports rose 1 percent in early trade on December 6 after the company's board approved a bonus share issue.
At 9:24am, SBC Exports was quoting Rs 32.27, up Rs 0.47, or 1.48 percent, on the BSE.
"The board has approved the issue of bonus shares in the ratio of one equity share for every two shares held by the existing equity shareholder of the company as on Record Date to be fixed in the meantime," the company said in a release.
The bonus issue of equity shares is subject to the approval of the shareholders through postal ballot, and any other applicable statutory and regulatory approvals, as may be required, it added.
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The board of directors has considered and approved the increase in authorized share capital of the company from Rs 22 crore to Rs 32 crore and subsequent alteration to the Memorandum of Association of the company, subject to the approval of shareholders of the company through postal ballot.
The share touched a 52-week high of Rs 35.04 and a 52-week low of Rs 13.50 on 24 November, 2023 and 12 December, 2022, respectively. Currently, the stock is trading 7.91 percent below its 52-week high and 139.04 percent above its 52-week low.
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