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Bharat Gears spurts as board to mull bonus issue

Bharat Gears spurted 14.90% to Rs 171.95 after the company said its board will consider a bonus share issue on 19 August 2022.

August 17, 2022 10:20 IST | capital market
The company said its board will is scheduled to meet on 19 August 2022 to consider issue of bonus shares to shareholders by way of capitalization of reserves. Bharat Gears is a major global supplier of automotive gears and heat treatment furnaces. The company manufactures a wide range of ring gears and pinions, transmission gears and shafts, differential gears, gear boxes majorly for the automotive industry. Net profit of Bharat Gears declined 32.71% to Rs 4.30 crore on 11.71% rise in net sales to Rs 183.97 crore in Q1 June 2022 over Q1 June 2021. Powered by Capital Market - Live News

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