IOC Surges Over 6% On Fixing Record Date For Bonus Issue

Posted By: Staff
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Shares of state run-Indian Oil Corporation (IOC) jumped over 6 per cent on the Bombay Stock Exchange after the company fixed October 19, 2016 as the record date for the purpose of ascertaining the eligibility of shareholders for issuance of bonus shares in the ratio of 1:1.

IOC Surges Over 6% On Fixing Record Date For Bonus Issue
Indian Oil Corporation: Quotes, News
BSE 387.70BSE Quote0 (0.00%)
NSE 387.80NSE Quote0.65 (0.17%)

Following the announcement, shares of company gained as much as 6.7 per cent in intra-day to trade at Rs 656.60 apiece on Bombay Stock Exchange.

In a similar fashion, stocks of company advanced 6.58 per cent to Rs 658.35 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 28,286.73, up 65.75 points, or 0.23 per cent at 12:10 hours.

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