ITC Ltd grants 1:2 bonus

ITC has decided to reward its shareholders with a double bonanza of stock split and bonus shares. ITC shareholders will get a bonus shares after a period of almost 10 years.

The board which met in Kolkata on Friday decided to split the Rs 10 face value share into 10 shares of Re 1 each and also recommended issue of bonus shares in the ratio of 1:2.

The sub-division of shares and issue of bonus shares will be allotted after the resolution to this effect is ratified at the 94th AGM of the company to be held on July 29, ITC informed BSE.

However, the ITC stock reacted negatively to the day’s development and closed the day in the red with a minor loss of Rs 3.25 (down 0.21 per cent) at Rs 1,546. The ITC counter clocked the trading volume of 3.36 lakh shares on BSE.