Bajaj Electricals gains ahead of bonus issue

Bajaj Electricals has seen a steady rally in the past few weeks ahead of this announcement. The stock had spurted 20% to Rs 503.60 in a single trading session on 16 May 2007 when the company first announced during trading hours that its board will meet on 29 May 2007 to consider bonus issue. The stock is currently trading at Rs 592, up 10%.

The company had last issued bonus in ratio of 1:2 (1 bonus share for every 2 held) in 1997.

The latest equity share capital of Bajaj Electricals is Rs 8.64 crore. The latest book value per share is Rs 90.59.

Bajaj Electricals manufactures a diverse range of products in three divisions: lighting, consumer durables and galvanised structures. It also undertakes turnkey projects of manufacturing and installing mobile, street lighting and transmission towers.

The company is a part of the Shekhar Bajaj Group with promoter holding a 66% stake in the company. It has five major strategic business units comprising home appliances, fans, lighting, luminaires and engineering & projects. It also manufactures, erect and commissions transmission line towers, telecom towers, mobile telecom towers and wind energy towers.