Banco Products Board recommends 1:1 Bonus Issue

Banco Products India Ltd has announced that the Board of Directors of the Company at its meeting held on June 28, 2007, inter alia, has transacted the following business:

1. Decided to review further, the matter of issue of Equity Shares to M/s. Japan Metal Gasket Ltd, Foreign Collaborator, through preferential allotment of 339,104 Equity Shares of Rs 10/ each.

2. Recommended the issue of Bonus Shares in the ratio of 1:1 (i.e. One Equity Share of Rs 10/- each for every one Equity Share of Rs 10/- each) subject to the approval of the members in the ensuing Annual General Meeting of the Company.

The stock closed the day at Rs.325.30, down by Rs.7.85 or 2.36%. The stock hit an intraday high of Rs.344.35 and low of Rs.320.10. The total traded quantity was 28281 compared to 2 week average of 23818.

Source : Equity Bulls

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