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Atul Auto soars on bonus issue, dividend plans

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Atul Auto has rallied as much as 20% to Rs 163 in opening trades after the company said its board will consider bonus issue and dividend to the equity shareholders

“The board of directors of the company will meet on May 12, to consider the proposal for recommendation of dividend and issue of bonus shares, subject to regulatory approvals,” the two-three wheelers maker said in a filing to the stock exchanges.

The board will also consider and approve the audited results for the full financial year 2011-2012 (and also last quarter Jan-March 2012) ended on March 31, 2012, it added.

Around 1,500 shares have changed hands in opening deals on the Bombay Stock Exchange.