Walchandanagar Industries Bonus and Stock Split

Walchandnagar Industries Limited stock is locked at 5% upper circuit on the BSE, based on the company’s announcement of Bonus and Split. Earlier at the meeting of the Board of Directors held on 25th November 2007 , the board members have recommended the following for the share holders of the company

Recommended special ‘Centenary Dividend’ of 100% on the equity shares of Rs 10/- each i.e. dividend of Rs 10/- (Rupees Ten only) per share, as the Company is entering into its centenary year on November 25, 2007. 

Issue of Bonus Shares : The Board recommended, subject to the approval of shareholders and other necessary regulatory approvals, if any, to issue Bonus Shares in the ratio of 1:1 (one bonus share for one share held).

Sub-division of shares : The Board recommended, subject to the approval of shareholders and other necessary regulatory approvals, if any, to sub-divide the equity shares of the face value of Rs 10/- each into 5 equity shares of Rs 2/- each. 

Walchandanagar Industries Limited is locked currently at Rs. 8478.25 up 5% on the BSE.