Engineers India has moved higher to its 29-month high of Rs 325, up 2.5% on the BSE, ahead of the stock turning ex-bonus in the ratio of 1:1 on Friday, December 30, 2016. The stock is trading at its highest level since July 3, 2014.
Since November 8, the stock of state-owned company has rallied 24% after the Engineers India said that the board will meet on November 16, to consider the issue of bonus shares. The S&P BSE Sensex is down 4.7% during the same period.
At 10:17 am; the stock was up 2% at Rs 324 on the BSE against 0.33% rise in the in benchmark index. A combined 1.45 million shares changed hands on the counter on the BSE and NSE so far.