Gruh Finance climbs over 5% after board recommends bonus shares

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Shares of Gruh Finance rallied over 5 per cent in early trade on Monday after NBFC on Saturday informed bourses that the board has recommended issue of bonus shares in the ratio of 1:1 to shareholders of the company, subject to the approval of the shareholders.

The board also recommended a dividend of Rs 3.30 per equity share of face value of Rs 2 each for the financial year ended March 31, 2018.

The scrip was trading 5.32 per cent up at Rs 644.95 on BSE at around 9.50 am (IST). Shares of the company opened at Rs 629.50 and touched a high and low of Rs 651.50 and Rs 611.20, respectively, in trade so far. Benchmark BSE Sensex was down 68 points, or 0.20 per cent, at 34,125 at around the same time.

The board also approved that the 32nd Annual General Meeting of the company will be held on May 30, 2018.

Shares of Gruh Finance had scaled their 52-week high of Rs 713.55 on January 19, 2018 and 52-week low of Rs 367.70 on April 17, 2017.

For the quarter ended March 31, 2018, the company posted 18.16 per cent rise in net profit at Rs 130.51 crore against Rs 110.45 crore in the corresponding quarter last year.

Source: Economic Times