Rural Electrification Corporation Ltd approves issue and allotment of Bonus Equity Shares

The "Bonus Issue Committee" of Directors of Rural Electrification Corporation Ltd in its Meeting held on September 30, 2016, has approved the issue and allotment of 98,74,59,000 Bonus Equity Shares in the ratio of 1:1 (i.e. One Bonus equity share of Rs. 10/- each for every equity share of Rs. 10/- each) to the existing shareholders of the Company holding shares at the close of business hours on the Record Date i.e. September 29, 2016.

The said Bonus equity shares will be credited in the demat accounts of eligible shareholders on or before October 10, 2016. Further, the dispatch of physical share certificates to the shareholders holding shares in physical form shall be completed within the prescribed time period as per applicable provisions of law.

Shares of RURAL ELECTRIFICATION CORPORATION LTD. was last trading in BSE at Rs.120.25 as compared to the previous close of Rs. 116.95. The total number of shares traded during the day was 553766 in over 3647 trades.

The stock hit an intraday high of Rs. 120.7 and intraday low of 115.85. The net turnover during the day was Rs. 65966548.

Source : Equity Bulls

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