Bharat Forge board on Thursday recommended issue of bonus shares to its equity shareholders in the ratio of 1:1. The board of directors have recommended issue of bonus shares to holders of equity share in the ratio of 1:1, that is one bonus equity share of Rs 2 each for one equity share of Rs2 each held, the company said in a BSE filing.
The recommendation is subject to the shareholder's approval through postal ballot, it added. Further, the company said it will also seek the shareholders approval for an increase in authorised share capital of the company. The stock traded at Rs 1,184, up 1.38 per cent on BSE.