The board of directors of the commercial vehicle manufacturer will issue bonus shares in the ratio of 1:1.
The stock has reacted positively to the news however the counter has performed poorly in past 6 months and had fallen around 40% from the highs made in Nov 2010.
At CMP of Rs 52 as on 16th June 2011 the total market capitalization of the company is Rs.6852 crores. For fiscal year 2011 the company registered a revenue of Rs. 11,117 crores and Profit after tax of Rs. 631 crores.
The company declared a dividend of Rs.2 (FV 1) per share in the current fiscal.