Manappuram General Finance approves 1:1 Bonus Issue & Stock Split

Manappuram General Finance & Leasing Ltd has announced that the Board of Directors of the Company at it meeting held on March 18, 2010, inter alia, has decided to split the existing equity shares of the face value of Rs.10 each fully paid in to equity shares of Rs.2 each fully paid.

The Board also approved proposal for bonus issue of equity shares in the ratio 1:1 to the members of the company.

The Board approved proposal to convene an extra ordinary general meeting to seek members approval for the above two items. Date of extra ordinary general meeting will be intimated separately.

The stock was trading at Rs.800, up by Rs.34.90 or 4.56%. The stock hit an intraday high of Rs.818.20 and low of Rs.772.50.

The total traded quantity was 63207 compared to 2 week average of 46237.

Source : Equity Bulls

Keywords