8 PSUs declare bonus shares

Highest number of PSUs ever declaring bonus shares in any calendar year

GN Bureau | November 25, 2016


#PSUs   #bonus shares   #HPCL   #ONGC   #BPCL   #IOC   #PFC   #REC   #Oil India   #Engineers India  

 Eight public sector undertaking (PSUs) companies have announced bonus shares for their shareholders thus far in the current calendar year 2016, reported Business Standard.

Statistics available with Capitaline Plus revealed it is the highest number of PSUs ever declaring bonus shares in any calendar year. In 2015, Bharat Electronics was the sole central public sector enterprise (CPSE) that issued bonus shares during this period, reported the newspaper.
 
While seven PSUs namely— Hindustan Petroleum Corporation Limited (HPCL), Oil and Natural Gas Corporation (ONGC), Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOC), Power Finance Corporation (PFC), Rural Electrification Corporation (REC) and Engineers India announced bonus issue since May 2016. Oil India is the latest entrant to the list, taking the tally to eight, the report said. 
 
The state-run oil exploration and production company’s board has convened a meeting on November 28, to consider issue of bonus shares.
According to the newspaper, BPCL, Engineers India, IOC, PFC and REC  issued bonus shares in the ratio of 1:1 - one share for every one held. HPCL issued in the ratio of 2:1 and ONGC in 1:2.
 
The report stated that HPCL issued bonus shares after a more than one decade. Indian Oil Corporation issued it after a gap of seven years, while ONGC and Engineers India after six years and Oil India and BPCL after four years.
 

Comments

 

Other News

Women’s panel seeks CJI intervention over rape-murder convict’s penalty

The Maharashtra State Commission for Women has urged the chief justice of India to take suo moto action in the matter of the Bombay high court converting to life imprisonment the death sentence of the two persons convicted for the brutal rape and murder of a Pune BPO executive in 2008. Chall

BSE StAR MF achieves 61% share of equity net inflow for November

BSE StAR MF, India`s largest mutual funds distributor platform, is working on ways to transform itself into a unique end-to-end value-based services platform. It has achieved 61% share of equity net inflows (Rs 802.96 crore out of Rs 1311.65 crore) for the month November 2019.   “T

Thackeray keeps home with Shiv Sena, NCP gets finance, Cong revenue

Two weeks after the Maha Vikas Aghadi (MVA) came to power in Maharashtra on November 28 following a month-long political tug of war, chief minister Uddhav Thackerey has announced cabinet portfolios, keeping the home department for his Shiv Sena party, while giving the allies NCP and the Congress finance an

Parliament passes Citizenship amendment bill

The Citizenship (Amendment) Bill 2019 has been cleared by parliament, as the Upper House on Wednesday passed the legislation that seeks to grant Indian citizenship to non-Muslims from three neighbouring countries. “A landmark day for India and our nation’s ethos of compassion an

Lok Sabha passes the Citizenship (Amendment) Bill

After a day-long debate which often turned acrimonious, the Lok Sabha has passed the Citizenship (Amendment) Bill 2019, seeking to provide citizenship to non-Muslims from three neighbouring countries who have migrated to India.   Prime minister Narendra Modi said he was “delighted&

Citizenship bill in Lok Sabha, triggers debate

Home minister Amit Shah on Monday introduced in the Lok Sabha the Citizenship Amendment Bill, triggering a long-ranging debate on the ideas of India, with the opposition parties claiming it was regressive. The bill seeks to grant citizenship to non-Muslim citizens of the neighbouring Pakista



Archives

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter