Gail (India) hits fresh 52-week high ahead of bonus issue

Gail (India) hit a fresh 52-week high of Rs 534, up 2% on BSE in an otherwise subdued market as the stock will turn ex-bonus in the ratio of 1:3 on Thursday. The board of directors of the state-owned company at their meeting held on January 25, 20017 had recommended the issuance of one bonus share of Rs 10 for existing three equity shares of Rs 10 each fully paid up. The company has fixed March 11, 2017 as record date for the purpose of allotment of bonus shares, Gail India said in a regulatory filing. In past two months, the stock outperformed the market by surging 23% as compared to 8.5% rise in the S&P BSE Sensex. At 09:56 am; the stock was up 1.6% at Rs 532 against a marginal 0.03% fall in the benchmark index. A combined 3.49 million shares changed hands on the counter on BSE and NSE so far. Future & Option Trading Tips