Indian Oil gains on bonus issue plan

Indian Oil Corporation (IOC) has moved higher by nearly 5% to Rs 568 on the BSE after the company announced that its board will meet on Monday, August 29 to consider issue of bonus shares.

Earlier, on August 10, 2016 the company said that a board meeting of the company is scheduled on August 29, 2016, to consider and approve the unaudited financial results of the company for the first quarter ended June 30, 2016.

The board is likely to consider issue of bonus shares in the said board meeting, IOC said in a regulatory filing.

Hindustan Petroleum Corporation (HPCL) on July 20, had declared bonus shares in the ratio of 2 (two) bonus equity share of Rs 10 each for every 1 (one) existing equity share of Rs 10 each.

Bharat Petroleum Corporation (BPCL) issued bonus shares in the ratio of 1:1 i.e. 1 (one) new bonus equity share of Rs 10 each for every existing 1 (one) fully paid up equity share of Rs 10 each.

 


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