Bonus Shares: A stock that has gained 200% in 12 months is set to reward shareholders [Video]

Shares of Anup Engineering Ltd., the producer and distributor of industrial machinery, are trading with gains of 11% on Monday morning, marking its biggest single-day gain in five months.

The company informed the exchanges over the weekend that its board would meet on Wednesday, March 20, to consider the proposal of issuing bonus shares to its shareholders.

The record date for the bonus issue, if approved, is yet to be determined.

This will be the first bonus issue of shares by the company. Previously, the company issued dividends of ₹7 each in 2019, 2020 and 2021, followed by a dividend of ₹8 per share in 2022.

In July last year, the company declared a final dividend of ₹15 for its shareholders.

Following today’s surge, shares of Anup Engineering have reversed all the losses for the month of March and are now trading with gains on a month-to-date basis. The stock …