Maharatna Gas Major Trades Ex-Bonus, Shares Rise Ahead of Bonus Issue Record Date
By Malvika Gurung
Investing.com -- Shares of the country’s largest natural gas company GAIL (NS: GAIL ) were trading ex-bonus on Tuesday, a day ahead of its record date for the bonus issue.
The PSU scrip was last seen trading 2.2% higher at Rs 93.17/share.
The Maharatna company’s board had recommended the issuance of bonus shares in the ratio of 1:2 in July and had set Sept 7, 2022, as the record date for finalising shareholders eligible for the same.
This means for every two shares of GAIL held by an investor on the record date, a bonus share will be given to them.
The gas transmission scrip has climbed almost 3.3% in the past month but is down nearly 7% in a year. Regardless, 27 out of 29 analysts covering the stock have a strong buy recommendation, while two have a sell rating on the PSU scrip.
As per Trendlyne data, the highest target price set on GAIL’s stock is Rs 235 apiece, an upside of 152.7% compared to the current price.
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today's price is ex bonus priceLike 0
But the stock split today 3:2 ratioLike 0
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