Shares of Sunil Hitech Engineers rallied as much as 20 per cent to hit fresh 52-week high of Rs 383.50, ahead of its board meeting to consider issuing bonus shares to its shareholders.
Sunil Hitech Engineers post market hours on Friday informed BSE that the meeting of the board of directors of the company is scheduled to be held on October 11, 2016, "to consider, discuss and approve on the issue of bonus shares to the members of the company and issue of convertible warrants to the promoters."
Meanwhile, Sunil Hitech Engineers shares will be split into the ratio of one to ten and the company has fixed record date for the stock split as October 19.
Nagpur-based Sunil Hitech Engineers which is an engineering, procurement and construction (EPC) company deals in business of solar energy, road projects, urban infrastructure and power projects.
Sunil Hitech Engineers has outperformed the benchmark indices by surging over 100 per cent in last three months compared with a gain of 1.82 per cent in the Sensex during the same period.
Sunil Hitech Engineers ended 18 per cent higher at Rs 378.10.
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