Auto component stock to consider bonus shares issue as board meet today | Mint
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Business News/ Markets / Stock Markets/  Auto component stock to consider bonus shares issue as board meet today
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Auto component stock to consider bonus shares issue as board meet today

Bonus shares are fully paid additional shares issued by a company to its existing shareholders

Photo: iStockPremium
Photo: iStock

Bharat Gears Ltd had earlier informed that its board of directors is going to consider and approve bonus shares in its finance committee meeting scheduled on 19th August 2022. However, the company informed BSE on 19th August 2022 that the meeting has been rescheduled to Wednesday, 24th August 2022.

“We hereby inform that the meeting of the board or directors of the company is scheduled to be held on August 24, 2022 inter_alia; lo consider the issue of bonus shares to the members of the Company by way of capitalization of reserves," the auto component maker had announced in an exchange filing. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

"Further, in terms of the Code for Prevention of insider Trading read with the SEBI (Prohibition of insider Trading) Regulations, 2015, the "Trading window" for dealing in the shares of the Company for- Promoters/Promoter Group/ Directors/Key Managerial Personnel/Designated Persons/Connected Persons of the company shall be closed from Tuesday, August 16, 2022 till the period ending 48 (forty eight) hours after the date of receipt of trading approval for the said Bonus Shares from the concerned Stock Exchanges (both days inclusive)," the company had added.

Bharat Gears Ltd (BGL) is a major global supplier of automotive gears and heat treatment furnaces. The company manufactures a wide range of Ring Gears and Pinions, Transmission Gears and Shafts, Differential Gears, Gear Boxes majorly for the automotive industry. Bharat Gears shares have surged about 52% in a year's period or whereas the auto component maker's stock is up more than 24% in 2022 (YTD) so far.

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Published: 24 Aug 2022, 11:25 AM IST
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