Bhel, bharat forge and two others announce bonus shares today

BHEL, Bharat Forge and two others announce bonus shares today

STOCK MARKET - Four companies – Bharat Forge, Bharat Heavy Electricals Limited (BHEL), Bharat Electronics and Manpasand Beverages – have announced bonus shares on Thursday.

The board of directors of Bharat Forge and Manpasand Beverages have recommended issuing bonus shares to holders of equity shares of the companies in the ratio of 1:1 i.e. one bonus equity share for every one fully paid-up equity shares held.

BHEL, the state-owned company, recommended issue of bonus shares to the members of the company by capitalisation of its free reserves in the ratio of 1 bonus equity share for every 2 existing equity shares.

BEL approved the proposal for issue of bonus shares in the ratio of 1:10 i.e. one bonus share for every 10 shares held.

Except, Manpasand Beverages (up 2% at Rs 784), the remaining three stocks BHEL (down 4% at Rs 128), BEL (down 4% at Rs 173) and Bharat Forge (down 1% at Rs 1,154) failed to cheer after bonus announcements, falling by up to 4% on BSE. On comparison, the S&P BSE was down 0.73% at 31,567 points at 02:45 pm.

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