Indian Oil To Consider Bonus Issue, Shares Jump 5%

Indian Oil Corporation (IOCL) shares surged nearly 5 per cent on Wednesday, following the refiner's decision to consider issuing bonus issue to shareholders. Indian Oil in a statement to the Bombay Stock Exchange said its board will meet on August 29 to consider issue of bonus shares. India's biggest oil marketing company is scheduled to report its June quarter numbers on the same day. In a bonus issue, investors get extra shares, ...