06 Jul 07 Television Eighteen (TV18) to issue bonus shares
The board of directors of Television Eighteen Limited (TV18) have recommended an issue of bonus shares in the ratio of 1 : 1 (1 bonus share for every 1 share held), to the existing shareholders of Television Eighteen Limited (TV18) as appearing in the company’s register of shareholders, on the record date, which will be announced in a few days time. The bonus issue will be made by capitalising the free reserves of Television Eighteen Limited (TV18).
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Hi Bullish,
Can you tell me when is the Record date for this scrip? even after the announcement the price is going down.Although the fundamentals are strong, what might be the reason??
Business and consumer news broadcaster Television Eighteen (TV 18) has been seeing substantial buying activity of late. As on June 5, the stock has gone up by 17.69 per cent on a month-on-month basis. Though the entire media sector has been buzzing with activity, dealers indicate that there are rumours that the company may soon approve a bonus plan for its shareholders. However, Mr Haresh Chawla, CEO, TV 18, denied it saying that there is nothing on the cards.
On Tuesday, the TV 18 stock touched an intra-day high of Rs 846, before settling 0.67 per cent higher at Rs 831.6 on the BSE.