BHEL gains on setting record date for bonus issue

NEW DELHI: Shares of Bharat Heavy Electricals gained as much as 2.15 per cent on Monday after the company announced that it has fixed September 30, 2017 as the record date for the purpose of issuance of 1:2 bonus issue.

The scrip was trading 1.33 per cent up at Rs 129.50 around 9.40 am (IST). It eventually closed the day at Rs 130.55, up 2.15 per cent.
Shares of the company opened at Rs 129.50 and touched a high and low Rs 131.50 and Rs 128, respectively.

On the BSE, 2.92 lakh shares were traded on the counter as against the average daily volumes of 2.54 lakh shares in the past two weeks.

The stock had hit a 52-week high of Rs 182.65 on April 25, 2017 and 52-week low of Rs 116.15 on December 27, 2016.

For the quarter ended June 30, 2017, the company reported a net profit of Rs 80.82 crore, up 3.92 per cent, against Rs 77.77 crore in the corresponding quarter last year. Net sales of the company slipped 2.38 per cent YoY to Rs 5380.60 during the quarter under review.