Stock Split In addition to approving a stock split, the company’s board has also cleared the issuance of bonus shares for its shareholders. The bonus issue, subject to shareholder approval, will be allotted in the coming weeks.
Bonus shares are issued to reward existing shareholders without any additional cost, as these are distributed out of the company’s reserves. This move is generally seen as a sign of strong financial health and confidence in future growth.
Market experts highlight that the twin announcements of a stock split and bonus issue are likely to create positive momentum around the stock. Investors are now keenly awaiting the official record date for the bonus issue, which will determine eligibility for shareholders.
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