Indian Oil shares rise as stock trades ex-bonus
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Oil marketing company Indian Oil Corporation (IOC) shares surged more than 2% to ₹74.8 apiece on the BSE as the stock started trading ex-bonus in Thursday's session.
The company's board of directors has recommended issue of bonus shares in the ratio of 1:2, i.e, for every two existing shares investors hold, one new bonus equity share will be issued.
The board fixed Friday, July 1, 2022 as record date to determine
the eligibility of shareholders to receive bonus shares.
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Bonus shares are fully paid additional shares issued by a company to its existing shareholders.
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