ITC hits fresh 52-week high
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ITC has moved higher to its fresh 52-week high of Rs 365.15, up 2% on the BSE, ahead of 1:2 bonus issue. The stock will turn ex-bonus on Friday, July 1, 2016.
The board of directors of the company at its meeting held on May 20, 2016, had recommended the issue of bonus shares in the proportion of 1 (one) bonus share of Rs 1 each for every existing 2 (two) fully paid-up ordinary shares of Rs 1 each.
The company has fixed record date as July 04, 2016 for the purpose of determining members who would be entitled to the bonus shares. The said bonus shares will be credited by July 19, 2016.
Since May 20, the stock has outperformed the market by gaining 11% as compared to 5% rise in the S&P BSE Sensex.
At 12:45 PM, the stock was up 1.7% at Rs 365 on the BSE against 0.5% gain in the benchmark index. A combined 5.26 million shares changed hands on the BSE and NSE so far.
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