GM Breweries Surges Bonus Announcement
Gold Silver Reports (GSR) – Shares of the alcohol manufacturer rose as much as 6.6 percent to Rs 1,200, its highest level in three months. The board of GM Breweries Ltd. has recommended a dividend at the rate of 30 percent or Rs 3 per share, the company said in an exchange filing. The board has also recommended a bonus issue of shares in the ratio of 1:4.
The stock has risen for four trading sessions this week and has given positive returns of 20.1 percent so far this year as compared to Sensex’s negative returns of 1.5 percent in the same times period.