The board of Kothari Products has announced an issue of bonus shares for its shareholders in the ratio of 1:1, following which the stock went up by 7.4% to its high of Rs 209.70 on the BSE today.“With reference to the captioned subject we wish to inform you that the Board of Directors of our Company has decided at its board meeting held today the following businesses:- 1. Recommended Issue of Bonus Shares in the ratio of 1:1 subject to the approval of the members through Postal Ballot,” informed the company via a filing to the stock exchanges.The record date for the purpose has not yet been informed by the company. However, it has been informed that the bonus shares will be credited/dispatched to the eligible shareholders by March 12, 2025.The bonus share issuance will be financed using the company's free reserves, with Rs 29.84 crore to be capitalized for its execution.With this, the company’s authorized share capital would increase from Rs 31.50 crore to Rs 61.50 crore.Also read: Senores Pharmaceuticals Share Price Live: Senores Pharma shares list at 53% premium at Rs 600 over IPO priceKothari Products primarily focuses on international trading of a wide range of products and commodities, including coal, agro-based items, storage devices, transformers, edible oil, steel, tiles, polyvinyl chloride (PVC), and metals. Additionally, the company, along with its subsidiaries and group entities, is involved in real estate development and leasing activities.The shares of Kothari Products have increased by 58.55% in the last one year and by 57.2% in the current calendar year so far.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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