Shares of India Oil Corporation rose over 4 per cent on the Bombay Stock Exchange after the state-run company said that its board may consider issue of bonus shares in the said board meeting on August 29, 2016.
The board meeting of the company is scheduled on august 29, 2016, to consider and approve the unaudited financial results of the company for the first quarter ended June 30, 2016, and may consider issue of bonus shares.
Ahead of board meeting, the stocks of company gained as much as 4.59 per cent in intra-day trade to Rs 568.00 per cent on Bombay Stock Exchange.
In a similar fashion, stocks of company advanced 3.89 per cent to close at Rs 565.10 apiece on the National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 28,024.82, up 34.61 points, or 0.12 per cent, at 12:00 PM.