Sunil Hitech Engineers surges on bonus issue plan

Sunil Hitech Engineers has surged 12% to Rs 358 on the BSE in early morning trade after the company announced that the board will meet on Tuesday, October 11, 2016, to consider issue of bonus shares to existing shareholders.

“The board will also consider the issue of convertible warrants to the promoters and non-promoters,” Sunil Hitech Engineers said in a regulatory filing.

Meanwhile, the company engaged in construction & engineering business has fixed record date as October 19, 2016 for the purpose of sub-division of each equity share of the company having a face value of Rs 10 each into 10 (Ten) equity shares of the face value of Re 1 each.

The stock will turn ex-stock split on October 19, 2016.

At 09:21 am, the stock was up 8.5% at Rs 347 on the BSE. A combined 367,837 shares changed hands on the counter on the BSE and NSE so far.

The stock trading at 52-week high and has been more than doubled in past three months from Rs 175 on the BSE. The S&P BSE Sensex gain 1.6% during the same period.


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