Bharat Gears share price zoomed over 17 per cent to touch day’s high of Rs 175.45 and Rs 176 per share on the BSE and NSE, respectively, intraday during Wednesday’s session. The surge in the stock came mainly on the announcement of the company to consider bonus share issue on August 19, 2022.
According to Bharat Gears exchange filing, “A meeting of the finance committee of the board of directors of Bharat Gears is to be held on August 19, 2022, to consider the issue of bonus shares to the members of the company by way of capitalisation of reserves.”
In terms of the Code for Prevention of Insider Trading read with the SEBI (Prohibition of Insider Trading) Regulations, 2015, the ‘Trading Window’ for dealing in the shares of the company for promoters, directors, key managerial personnel, designated persons and connected persons of the company shall be closed from August 16, 2022, till the period ending 48 hours after the date of receipt of trading approval for the bonus shares from the stock exchanges, the company said.
The stock was trading around 8 per cent lower from its 52-week high of Rs 190.2 per share on November 2, 2021, and was up nearly 57 per cent from its 52-week low of Rs 111.84 per share on August 23, 2021.
The counter in the last five days has jumped over 23 per cent, while it is up almost 18 per cent and 35.5 per cent in the last one month and year, respectively, on the NSE.