Munjal Auto gains 5% on bonus plans

 

Munjal Auto gains 5% on 1:1 bonus

  Munjal Auto Industries was trading 5% higher at Rs 112 on BSE after the board recommended to issue bonus shares in the ratio of 1:1 i.e. one equity share of Rs 2 each for every one fully paid up equity share held as on record date.

The board also recommended a final dividend at 100% viz. Rs 2 per equity share for financial year 2016-17. The dividend will be paid by July 30, 2017.

Meanwhile, auto parts & equipment company has reported 43% jump in its net profit at Rs 9.10 crore for the quarter ended March 2017 (Q4FY17), despite decline in operational income. It had profit of Rs 6.37 crore in year ago quarter.

Net operational revenues of the company during the quarter under review fell 6% to Rs 214 crore from Rs 228 crore in the corresponding quarter of previous fiscal.

The stock hit a high of Rs 113 and low of Rs 109 on BSE so far. The trading volumes on the counter jumped an over four-fold with a combined 920,037 shares changed hands on the BSE and NSE till 01:05 pm.