BSE Share Price At One-Month High After 2:1 Bonus Issue
This is BSE’s second bonus share issue in three years.
BSE Ltd. share price rose to a one-month high during early trade on Tuesday, after the board approved issuing two bonus shares for every share its investors hold.
The approval makes this BSE’s second bonus share issue in three years. In February 2022, the exchange issued bonus shares in the same ratio, giving investors two additional shares for every share held.
The record date for determining eligible shareholders will be announced later.
The bonus issue comes at a time when the company’s shares have risen over 100% in the past 12 months. Since its listing in 2017, the stock has increased over 15 times.
Besides, since its listing, BSE has issued dividends 22 times and bonus shares twice.
BSE Share Price Up
BSE share price advanced 1.65% intraday to Rs 5,570 apiece, the highest since late February. The scrip was trading 1.1% higher by 9:22 a.m. The benchmark NSE Nifty 50 was down 0.3%.
The stock has risen 102% in the last 12 months and 2.9% on a year-to-date basis. The relative strength index was at 67.
Ten out of 13 analysts tracking BSE have a 'buy' rating on the stock, two recommend a 'hold' and one suggests a 'sell', according to Bloomberg data. The average of the 12-month analysts' price target of Rs 5,904 implies a potential upside of 8%.
