By Malvika Gurung
Investing.com — Shares of the transformers manufacturer Shilchar Technologies Ltd (BO:) soared 13.2% on Wednesday and hit an intraday high of Rs 1,791 apiece as the stock turned ex-bonus in the ratio of 1:1 in the session.
Shares of Shilchar Technologies have skyrocketed 248.93% so far in the calendar year 2023, and have rallied a breathtaking 441.2% over the past one year, making it a throbbing multibagger stock.
The transformers stock snapped a five-day losing streak on its ex-bonus day on Wednesday, declining 5.42% in the period.
Shilchar Technologies’ Board of Directors recommended the allotment of one fully paid bonus equity share of Rs 10 each for every one existing share of Rs 10 each to its shareholders as on the record date, at no additional cost. The corporate reward is subject to the In Principal approval of the Bombay Stock Exchange (BSE).
The record date for determining the shareholders’ eligibility for the 1:1 bonus share issue was set as September 6, 2023.
The bonus shares will be credited or dispatched to the accounts of those eligible by an estimated date of September 10, 2023.
Free Reserves of Rs 3,81,34,000 are required for the implementation of the bonus share, stated Shilchar Technologies.