Grauer & Weil board to consider bonus issue on Monday; shares skyrocket 20%

Grauer & Weil (India) Ltd shares skyrocketed on Thursday after the electroplating engineering equipment and specialty chemicals manufacturer said its board will meet on February 26 to consider a proposal to issue bonus to shareholders. The stock soared by as much as Rs 32.7, or 20 per cent, to a 52-week high of Rs 196 apiece on BSE.

At 11:15 am, Grauer & Weil shares held on firmly to their intraday gains, trading 14.2 per cent higher for the day at Rs 186.4 apiece on the bourse with huge volumes.

As many as 9.5 lakh Grauer & Weil shares changed hands for the day so far, as against a daily average of 1.4 lakh recorded in the past two weeks, according to provisional exchange data.

"Under Regulation 29 of the Securities and Exchange Board of India (Listing obligations and disclosure requirements) Regulations, 2015, we hereby inform you that a meeting of the board of directors of the company is scheduled to be held on Monday, February 26, 2024, interalia to consider the issue of bonus shares to the shareholders of the company,” the company said in a regulatory filing post-market hours on Wednesday.

"The trading window for all designated persons is closed from February 21, 2024, and shall open 48 hours after the conclusion of the aforesaid meeting of the board of directors," it added.