Shares of IT major HCL Technologies rose nearly 2.7 per cent to Rs 2,099 after the company fixed March 20 as the record date for a bonus issue.
"The company has fixed record date as March 20, 2015 for the purpose of Issue of bonus shares on the company's equity shares in the ratio of 1:1 i.e. one additional equity share for every one equity share held," HCL Tech said in a statement to the BSE after market hours yesterday.
This means that all the investors holding the shares on March 20 will be eligible for bonus shares.
Bonus shares increase the number of shares in the market which help increase liquidity of the stock.
HCL Tech board at its meeting held on January 30, 2015, had recommended the bonus issue. This will increase the authorized share capital of the company to Rs 300 crore from Rs 150 crore.
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