Allcargo Logistics hit a new52-week high today at Rs.421, with volumes surging almost 5 times. It currently remains firmly in the green, up over 5% at Rs.417 levels.

The stock hit a high, reacting to the company’s announcement that it has fixed 31^st December as record date for purpose of bonus shares, in the ratio of 1:1.

This means, apart from shareholders doubling their holding, the equity capital of the company will go up from current Rs.25.21 crore to Rs.50.42 crore.