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Chisel Approves Bonus Issue

Chisel & Hammer (Mobel) Ltd. said its board approved the issue of bonus equity shares in the ratio of two equity shares of Rs.10 each for every one share by capitalizing reserves, subject to approval of shareholders.

The board also decided to conduct the postal ballot for obtaining approval of shareholders for the said proposed bonus issue.

The company clocked a net profit of Rs.3 crore on total income of Rs.237 crore for the fiscal year ended March 31, 2011.

At the BSE, Chisel & Hammer (Mobel) shares are currently trading at Rs.49.95, up by 4.94 percent from the previous close.

by RTT Staff Writer

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