Pidilite Industries jumped 13.72% to Rs 222.50 on BSE, after the company said its board will meet on 28 January 2010 to consider issue of bonus shares.
The company announced the board meet during trading hours today, 6 January 2010.
Meanwhile, the BSE Sensex was provisionally up 10.31 points, or 0.06%, to 17,696.55.
The stock hit a high of Rs 229 so far during the day, which is an all-time high for the counter. The stock hit a low of Rs 191.50 so far during the day. The stock hit a 52-week low of Rs 79.50 on 11 February 2009.
The company's equity capital is Rs 25.31 crore. Face value per share is Rs 1.
The current price of Rs 222.50 discounts the company's Q2 September 2009 annualized EPS of Rs 13.52, by a PE multiple of 16.46.
If approved by the board, this will be the third bonus from Pidilite Industries. Earlier, the company had issued a liberal 1:1 bonus, each in October 1996 and June 2000.
Pidilite Industries' net profit surged 158% to Rs 85.54 crore on 6% rise in net sales to Rs 507.20 crore in Q2 September 2009 over Q2 September 2008.
Also, this is PIL’s golden jubilee year & hence one can expect a shareholder friendly corporate action like bonus or special dividend.
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