10 Dec , 2024 By : Debdeep Gupta
Indraprastha Gas Limited's share price gained over 2 percent on Tuesday as the board of the company is set to meet today to consider the proposal for the issue of bonus shares to the shareholders of the company.
IGL scrip touched an intraday high of Rs 394.3 per share on the NSE, rising 2.27 percent from its previous close. The counter has been rising for the last four days and has risen 8.05 in the period.
The company in a regulatory filing on December 4 said, "Meeting of the Board of Directors is scheduled to be held on December 10, 2024, inter-alia to consider the proposal for issue of Bonus Shares to the equity shareholders of the Company in the ratio, as may be fixed, subject to the Shareholders' approval."
The gas distribution company had given an interim dividend of Rs 5 per share in November, and a final dividend in September.
The shares of both MGL and IGL have taken a significant hit from the highs of the year to fall by more than a third, more so after the Centre announced the decision to cut priority gas allocation to city gas distributors.
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