Auto component stock jumps 25% in a week ahead of bonus share decision

In early morning deals on Thursday, Bharat Gears share price extended its rally and opened with upside gap and went on to hit intraday high of ₹182 apiece on NSE, logging near 3 per cent rise within few minutes of the opening bell today. In last 5 trade sessions, this auto component stock has appreciated from around ₹140 to ₹182 per share levels, ascending to the tune of over 25 per cent in this time.

In one of its recent stock market exchange filing, Bharat Gears Ltd informed about the developments in regard to bonus shares citing, “Pursuant to the Regulation 29 of the SEBl (Listing obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that 2/22-23 Meeting of the Finance committee of the Board of Directors of the company is scheduled to be held on August 19, 2022 inter-alia; to consider the issue of Bonus Shares to the members of the Company by way of capitalization of reserves.”

“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 small-cap company concluded.

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