Bharat Rasayan shares rise 12% on this recent update, read more 

Shares of Bharat Rasayan rose as much as 12% on today after the company said its board would meet to consider a bonus issue of shares and a stock split along with its September quarter results.

Bharat Rasayan stock rose 12% to Rs 10,990 against the previous close of Rs 9833.20. Market cap of the firm stood at Rs 4313 crore. 

The small cap stock has lost 10.62% in a year and fallen 0.18% since the beginning of this year. Total 3934 shares of the firm changed hands amounting to turnover of Rs 4.04 crore. 

In terms of technicals, the relative strength index (RSI) of the stock stands at 47.6, signaling it's trading neither in the overbought zone nor in the oversold zone. Bharat Rasayan stock has a one-year beta of 1.1, indicating high volatility during the period. 

The company said that the board would meet on Friday, October 24, to consider these proposals.

The record date for the same is yet to be determined.

This is the first time that Bharat Rasayan would consider a bonus issue and a stock split for its shareholders.

Bharat Rasayan is a R&D driven chemical manufacturing company It is engaged in the production of Fatty Acid Anhydrieds, Grignard Reagents, Pharma / Drug intermediates, Esters and Solvents on a regular basis. Bharat Rasayan is one of the largest manufactures of Cosmetic ingredients with primary focus in the personal care(Skincare, HairCare and Anti-bacterial ) preservatives.