Indian Power Change (IEX) on Tuesday knowledgeable that its board will meet on Thursday, October 21, 2021 to contemplate the proposal of bonus problem of shares. Shares of IEX surged over 15% in Tuesday’s opening offers to ₹916 per share on the BSE.
“We want to inform you that the Board of Administrators of the Firm of their assembly scheduled on Thursday, October 21, 2021, shall inter-alia, additionally contemplate the proposal for declaration of Bonus Problem of Fairness Shares topic to the approval of the shareholders of the Firm,” the change knowledgeable in a BSE submitting right this moment.
Talking on the IEX share value outlook, Ravi Singhal, Vice Chairman at GCL Securities mentioned, “IEX shares are rising as a result of anticipated bonus announcement. The inventory has already shot up round 15 per cent right this moment, however one can nonetheless purchase this counter at present market value for the one month goal of ₹1170 sustaining cease loss at ₹877 per share ranges.”
IEX is the premier electrical energy change in India, which facilitates electrical energy commerce. IEX instructions a market share of round 95% within the energy change market. The inventory has surged surged round 160% up to now six months whereas it has delivered multibagger return of over 315% in 2021 (year-to-date) up to now. From ₹220 apiece in January this yr, the scrip has rallied to buying and selling round ₹916 per share presently.
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Supply: Live Mint