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Hatsun Agro stock rises 12% as board to consider bonus issue of shares

Hatsun Agro Product stock has gained after two days of consecutive fall. The share rose 11.85% intra day to Rs 870 against previous close of Rs 779.70

twitter-logoBusinessToday.In | October 5, 2020 | Updated 16:39 IST
Hatsun Agro stock rises 12% as board to consider bonus issue of shares
Hatsun Agro Product share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages

Share price of Hatsun Agro Product gained nearly 12 percent intraday on October 5 after the firm said its board would consider issue of bonus shares. Hatsun Agro Product stock has gained after two days of consecutive fall. The share rose 11.85% intra day to Rs 870 against previous close of Rs 779.70.

Hatsun Agro Product share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 34% in one year and gained 42.79 % since the beginning of this year. The stock has climbed 12.56% since the beginning of this year.

The share touched its 52-week high Rs 875.00 and 52-week low Rs 375.05 on 18 September, 2020 and 24 March, 2020, respectively.

Total 0.15 lakh shares changed hands amounting to turnover of Rs 1.22 crore on BSE. Market cap of the firm rose to Rs 13,576 crore.

Later, the share closed 7.68% or Rs 60 higher at Rs 839.60 on BSE.

A board meeting is scheduled to be held on October 19 to consider the unaudited financial results of the company for the quarter ended September, 2020, the firm said.

The board will also consider the proposal for declaration of bonus shares on the fully paid up equity shares of the company.

It will consider raising funds through private placement of equity shares by way of qualified institutional placement (QIP).

Hatsun Agro Product said in a communication to BSE that meeting will also include fixing record date for determining members eligible to vote on bonus issue; private placement of equity shares, to approve appointment of independent director; to approve the re-constitution of board by re-designating the chairman as NED only, appointing the managing director as chairman and appointing the executive director as managing director; and to approve the notice of postal ballot.

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