Mahindra Lifespace rallies 19% on bonus issue buzz

New Delhi: Shares of Mahindra Lifespace Developers jumped as much as 19 per cent in early trade on Friday as the company informed about the board meeting to consider the issuance of bonus shares.

The board will meet on Wednesday, 28th July, 2021 to consider the proposal for issuance of bonus equity shares, subject to requisite approvals, the company said in the regulatory filing.

Shares of Mahindra Lifespace gained 19 per cent to Rs 793.10 on Friday. However, the counter was trading at Rs 748 at 10.20 am. BSE Sensex was trading 70.76 points or 0.13 per cent higher at 52,907.97 at the same time. The scrip settled at Rs 667.40 on Thursday.


Also, the company board will consider and approve unaudited standalone and consolidated financial results for the first quarter ended on 30th June, 2021, the filing added.

Shares of the realty firm have more than doubled in 2021 so far. The counter has gained over 30 per cent in the last one month.