Shakti Pumps to issue bonus shares; stock down

MUMBAI: Shakti Pumps has recommended issue of bonus shares in proportion of one equity share of Rs 10 each for every one held. The company also plans to issue 3,60,400 shares of Rs 10/- each on a preferential basis and 7,27,600 pptionally convertible debentures on a preferential basis to Qualified Institutional Buyer- IFCI Venture Capital Funds.

The stock was at Rs 135.40, down 4.55 per cent on the BSE. It touched a high of Rs 152.90 and low of Rs 128.30 in trade so far. Around 4.08 lakh shares were traded in the counter.