Bharat Electronics may consider bonus issue of shares on Aug 4

Bharat Electronics may consider bonus issue of shares on Aug 4
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By CNBCTV18.com Aug 1, 2022 7:15:42 PM IST (Updated)

Bonus shares are free additional shares that are offered to existing shareholders. Companies low on cash may issue bonus shares rather than dividends. Shares of Bharat Electronics Ltd ended at Rs 282.75, up by Rs 7.70, or 2.80 percent on the BSE.

State-run Bharat Electronics Ltd (BEL) on August 1 said its board will consider a proposal to issue bonus shares to its shareholders in a meeting scheduled on August 4, 2022.

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In its regulatory filing, the company said, said, ."..we wish to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, the 4th August 2022 inter alia to consider a proposal for issue of Bonus Shares to the equity shareholders of the company."
From 2015 till now, Bharat Electronics has issued bonus shares twice in the ratio of 2:1 and 1:10. The bonus shares were issued first on September 14, 2015, and later on September 28, 2017.
Bonus shares are free additional shares that a company offers to existing shareholders. Companies low on cash may issue bonus shares rather than cash dividends.
Last month, the government-owned aerospace and defence electronics company reported a net profit of Rs 431.49 crore in the June quarter. The company had reported PAT of Rs 11.15 crore in the corresponding period of the previous year. In the quarter ended June, its total consolidated revenue from operations jumped to Rs 3,140.61 crore.
In March this year, Hindustan Aeronautics Ltd (HAL) signed a contract with Bharat Electronics for the co-development and co-production of Long Range Dual Band Infra-Red Search and Track System (IRST) for Sukhoi Su-30 MKI fighter jets.
The contract was signed under the MAKE-II procedure of Defence Acquisition Procedure (DAP) 2020, as part of the ‘Make in India’ initiative.
Shares of Bharat Electronics Ltd ended at Rs 282.75, up by Rs 7.70, or 2.80 percent on the BSE.
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