Bonus Issue: 2 Auto Ancillary Stocks Announce Bonus Share, Stock Zooms 19%

Two leading companies have announced bonus shares. These companies are Bharat Gears Ltd and Samvardhana Motherson International Limited. The stock of Bharat Gears jumped nearly 17% on the announcement of bonus issue and the stock of Samvardhana Motherson International surged by 2.76% in trading today. Check key details below:

Bharat Gears To Consider Bonus Share Issue On August 19, 2022

The board of directors of the company in its BSE filing said, "Pursuant to the Regulation 29 of the sEBl (Listing obligations and Disclosure Requirements) Regulations, 2015, we hereby inform lhal 2122-23 Meeting of the Finance committee of the Board of Directors of the company is scheduled to be held on August 19,2022 inter-alia; to consider the issue of Bonus Shares to the members of the Company by way of capitalization of reserves."

Bharat Gears Stock Zooms 19% On Bonus Issue Announcement

The stock of the company surged by 18.78% as soon as the announcement of bonus share issue was made. The 52-week high of the stock is 190 apiece and 52-week low is Rs 111 apiece. The current market price of the stock

Bharat Gears Market Capitalization

The company has a market capitalization of Rs 181.96 crore.

Bharat Gears About

Incorporated on 23rd December 1971, BGL is India's largest gear manufacturer. BGL manufactures a wide range of gears for HCV, MCV, LCV , utility and off-highway vehicles. The products includes bevel, straight bevel and transmission gears.

Samvardhana Motherson International Ltd Announces Bonus Share

The board of directors in its regulatory filing stated, "In furtherance to our letter dated August 8, 2022, please note that the Board of Directors of the Company in its meeting held today, i.e., August 16, 2022, has recommended issue of bonus shares in the ratio of 1 (one) bonus equity share against 2 (two) existing equity shares, subject to approval of the shareholders."

Samvardhana Motherson International Ltd Stock Zooms 2.76

The stock of the company zoomed by 2.76% soon after the announcement of bonus issue was made. The current market price of the stock is Rs 132 apiece with 52-week high of Rs 206 apiece and 52-week low at Rs 112 apiece.

Samvardhana Motherson International Ltd Market Capitalization

The large-cap company has a market capitalization of Rs 59,721.73 crore.

About Samvardhana Motherson International Ltd

Motherson is one of the world's largest manufacturers of components for the automotive and transport industries.