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

Building infrastructure is only half the job

Recent stories of stolen railway wires, disappearing communication towers and missing public infrastructure are often treated as bizarre law-and-order failures of India. Yet they raise a more fundamental question. Why does the State often discover the disappearance of a public asset only after it has alrea

New Delhi’s Indo-Pacific strategy enters a new phase

India appears to be investing fresh dynamism in its Indo-Pacific strategy. At the time when the US, under president Donald Trump, has adopted a conciliatory approach towards China and has changed the name of America’s Indo-Pacific Command to just Pacific Command, India has quietly moved towards con

CAG flags major fiscal lapses in Maharashtra

Maharashtra`s fiscal management has come under sharp scrutiny after the Comptroller and Auditor General (CAG) of India, in its State Finances Audit Report for 2024-25, flagged significant budgetary inefficiencies, accounting irregularities, understatement of key fiscal indicators and widespread governanc

The health sector research we are not doing

Some neglect is loud. This kind is quiet. It sits in research never commissioned, data never collected, questions never asked. In South Asia, that quiet has let the region’s worst health problems stay understudied, underfunded, and out of sight of those who could act.  

Study flags accessibility and last-mile challenges on Mumbai Metro Aqua Line

Mumbai Metro Line 3 (Aqua Line), the city`s first fully underground metro corridor and one of its largest public transport investments, represents a major engineering achievement and has been widely welcomed by commuters. However, the overall commuter experience continues to be constrained by accessibili

Centre intensifies preparedness as El Niño threat looms

Amid uncertainty in the southwest monsoon due to the potential impact of El Niño, the government is addressing the situation with comprehensive preparedness, a clear strategy, and strong ground-level action. While challenges remain, the entire system has been activated in advance and is working proa





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter