Gruh Finance trades ex-bonus today; stock up 3%

Shares of Gruh Finance, a subsidiary of HDFC, was up 3% to Rs 351 on the BSE in early morning trade after the stock turned ex-bonus on Wednesday.
The board of housing finance company at their meeting held on April 14, 2018 had announced a 1:1 bonus i.e. one new bonus equity share of Rs 2 each for every one existing equity share of Rs 2 each for its shareholders. It has set June 7 as the record date for determining the entitlement of members to receive bonus equity shares of the Company.

Gruh Finance outperformed the market by surging 11% since the board had recommended bonus issue. On comparison, the S&P BSE Sensex was up 2% during the same period. The stock hit an all-time high of Rs 368 (adjusted to bonus) on May 31, 2018 in intra-day trade.

At 09:51 am; Gruh Finance was trading 1.6% higher at Rs 346 on the BSE, as compared to 0.26% rise in the Sensex. A combined 214,351 equity shares changed hands on the counter on the BSE and NSE so far.

Gruh Finance hits record high ahead of 1:1 bonus issue

Gruh Finance hit a record high of Rs 736, up 5% on the BSE in intra-day trade on Thursday ahead of 1:1 bonus issue. The Company has fixed Thursday, June 7, 2018 as the record date for determining the entitlement of members to receive bonus equity shares of the Company in the ratio of 1:1 i.e. one new bonus equity share of Rs 2 each for every one existing equity share of Rs 2 each.
The stock will turn ex-bonus on Wednesday, June 6, 2018.

Gruh Finance outperformed the market by surging 20% since the board of directors at their meeting held on April 14, 2018 had recommended bonus issue. On comparison, the S&P BSE Sensex was up 2% during the same period.

In past one year, shares of housing finance company rallied 86% against 12% rise in the benchmark index.

At 10:00 am; the stock was trading 3.5% higher at Rs 727 on the BSE, as compared to 0.14% rise in the Sensex. The trading volumes on the counter more than doubled with a combined 408,747 shares changed hands on the BSE and NSE so far.