GAIL shares soar on bonus issue hopes
Shares of state-run GAIL rose almost 9 per cent after the gas transporter said its board will meet on June 23 to consider a bonus share issue.
By ET Online |
MUMBAI: Shares of state-run GAIL rose almost 9 per cent after the gas transporter said its board will meet on June 23 to consider a bonus share issue.
At 10:20 am, the GAIL share was up 4.38 per cent at Rs 397.60, easing from a high of Rs 415 in trade so far. The counter clocked a volume of 1,44,935 against two-week average of 3,35,735 shares.
The company also plans to double its expenditure in 2008-09 to Rs 4,200 crore. The board had approved the move to double its authorised capital to Rs 2,000 crore as it was necessary before the bonus shares were issued.
At 10:20 am, the GAIL share was up 4.38 per cent at Rs 397.60, easing from a high of Rs 415 in trade so far. The counter clocked a volume of 1,44,935 against two-week average of 3,35,735 shares.
The company also plans to double its expenditure in 2008-09 to Rs 4,200 crore. The board had approved the move to double its authorised capital to Rs 2,000 crore as it was necessary before the bonus shares were issued.
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