BEL bonus record date 2022: Shares of Bharat Electronics Limited (BEL) jumped nearly three per cent in early trade to hit fresh 52-week high on ex-bonus date. The stock of the company which caters to aerospace and defense rose 2.8% to new 52-week high of Rs 115 per share in BSE intraday trade on Thursday.
BEL bonus share
The PSU Defense company has announced a bonus in the ratio of 2:1, which implies an eligible shareholder will get two bonus shares for holding one equity share in their demat account on the record date.
BEL bonus share record date 2022 to determine the eligibility of shareholders has been fixed as September 16.
“We wish to inform you that the company has fixed Friday, the 16th September, 2022 as the record date to determine the eligible shareholders to receive bonus shares as approved in the 68th Annual General Meeting (AGM) of the company held on 30th August, 2022,” BEL said in a regulatory filing on September 8, while adding that the transactions in the equity Shares of the Company would be on an ex-Bonus basis.
A multibagger stock
BEL is multibagger stock which has yielded over 200% return in the past two years as on September 15. The stock has clocked around 60% return in the last one year. On Thursday, Bharat Elecronics shares were trading with marginal discount of one per cent to Rs 110.80 per share on the BSE. The stock traded at 52-week low of Rs 61.09 on October 21 last year.
What does BEL do?
Bharat Electronics Limited, a Navratna PSU under the Ministry of Defence, Government of India, is engaged in manufacturing state-of-the-art electronic products and systems for the Army, Navy and the Air Force.
BEL has also diversified into various areas like homeland security solutions, smart cities, e-governance solutions, space electronics including satellite integration, energy storage products including e-vehicle charging stations, solar, network & cyber security, railways & metro solutions, airport solutions, Electronic Voting Machines, telecom products, passive night vision devices, medical electronics, composites and software solutions, as per the company.