Bajaj Auto Bonus Issue

Posted by admin

July 14, 2010

India’s second largest two-wheeler maker Bajaj Auto today said that it is planning to issue bonus shares, for which its board will meet on July 22.

The announcement drove the company’s scrips to an all-time high of Rs 2,461.70 per share on the BSE during the afternoon trade, up 2.15 per cent from the previous close.

The last time Bajaj Auto Ltd (now known as Bajaj Holdings and Investments Ltd) had made an announcement of the sort was in October 1997, when it issued bonus shares in the ratio of 1:2. Bajaj Auto had also issued bonus shares in the 1:1 ratio in 1994, 1991, 1988, 1984 and 1976.

In 1971 and 1973, the company had issued bonus shares in the 1:2 ratio. The biggest bonus share from the company till date was in 1967, when it issued five new shares for every one held in the company.

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Bonus Issue