Bonus Share Announced: Good news for the investors of this company, approval to issue bonus equity shares, know the company's planning…

Bonus Share Announced: There is a decline in the stock market today i.e. Thursday (19 December). Sensex is trading at the level of 79,296.60 with a fall of about 885.60 (-1.10%) points. At the same time, Nifty has also fallen by more than 250.70 (-1.04%) points. It is trading at the level of 23,948.15.

Actually, investors are focusing on some such stocks which have news of favorable corporate action. There is movement in the share price of kitchen hardware company Hardwin India Limited. On Thursday, shares of Hardwin India Limited rose by one percent and reached an intraday high of Rs 29.90.

The board of directors of the company has approved the issue of 13 crore 95 lakh 52 thousand 587 bonus equity shares to the existing investors in the ratio of 2:5. This means that for every 5 existing stocks on the record date, 2 new fully paid equity shares will be issued. Record date will be announced soon.

The company said it is pleased to announce that during the 7th Annual General Meeting, its shareholders have approved a significant corporate action. This approval pertains to the increase in the authorized share capital of the company.

Authorized share capital will increase from Rs 35,10,00,000 to Rs 50,00,00,000, which includes increase of 14,90,00,000 equity shares of face value Rs 1 each. This capital increase will facilitate the release of bonus shares to existing investors.

Bonus Share Announced. The company will amend its memorandum of association to issue bonus shares. Specifically, Clause V of the MOA will be replaced by a new clause specifying the increased authorized share capital of Rs 50,00,00,000.