Relicab Cable hits new 52-week high as board mulls bonus issue

8 Jun 2022 , 10:44 AM

Relicab Cable’s counter jumped nearly 19% in today’s early morning trade as the board informed exchanges of its consideration of the bonus issue in the ensuing Board Meeting.

The company informed that the meeting of the Board of Directors of the Company is scheduled to be held on Friday, June 10, 2022.

The board will recommend and approve the issue of Bonus shares to the equity shareholders of the company.

The filing further outlined that the board will also approve the proposal of Migration of the Company from the SME platform of BSE to the Main Board of BSE Limited as well as on the Main Board of NSE Limited.

At around 10.42 AM, Relicab’s stock was trading at Rs58, up by 18.61% against its previous close of Rs48.90 on BSE. The scrip opened at Rs49.50 and touched intraday high and low of Rs58 and Rs49.50 respectively so far.