Aarti Drugs gains 20% and hits all time high after Board approves issuance of bonus shares

Published On: Thursday, August 20, 2020 | By: Team KnowMyStock

Shares of Aarti Drugs gained as much as 20 per cent to a lifetime high of Rs 2892 on the BSE on Thursday after the company's board approved issuing 3 bonus equity shares for every one fully paid-up equity share held.i.e 3:1.The company will intimate the “Record Date” for determining eligible Shareholders entitled to receive Bonus Shares in due course, it added."The Board of Directors has approved Increase in the authorized share capital of the Company from Rs. 25,00,00,000/- to Rs. 120,00,00,000/- by creation of additional 9,50,00,000 Equity Shares of Rs. 10/- and the issuance of fully paid up Bonus Share in the ratio of 3:1," the company said in a filing to exchanges today. The company has delivered a good set of numbers for the June quarter, even as Covid-19 pandemic disrupted economic activity across the globe. Aarti Drug’s net profit rose 281 per cent to Rs 85.45 crore in the quarter ended June while sales rose 34 per cent to Rs 544.67 crore in the quarter from a year ago.

Source: Money Control, Business India, Economic Times

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