Bharat Gears opened over 13% higher at Rs.169.90, and rose almost 20% to an intraday high at Rs.179.55, briefly hitting its UC of the day. Its 52-week high is at Rs.190.20.
The stock zoomed up after the Board said yesterday that its Board is scheduled to meet on 19th August for consideration of bonus.
Trading window shall be closed from August 16 till the period ending 48 hours after the date of receipt of trading approval for the bonus shares from the exchanges.
The company is India's largest gear manufacturer. Since commencing business in 1974, it entered into the technical know how with Holcroft, Michigan, U.S.A. for manufacturing Furnaces in May 1983 and with ZF Friedrichshafen, AG, Germany, in 1985 to Mid May,2007 technical & Financial collaboration for manufacturing Gear Boxes.
Its products include a wide range of gears for HCV, MCV, LCV , utility and off-highway vehicles.