Shares of Relaxo Footwears rose over 2 per cent in early trade on Bombay Stock Exchange (NSE) after the stock turned ex-bonus in the ratio of 1:1. The board of directors of the footwear company at its meeting held on May 11, 2015, had recommended the issue of bonus shares in the ratio of 1:1 i.e. one equity share for every one equity share held.

Following the development, shares of the company gained 2.28 per cent to Rs 486 a piece on BSE.

In a similar trend, shares of the company surged 3.17 per cent to Rs 487.45 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 27,975, up 194.89 points, or 0.70 per cent, at 11:30 hours.