CCI stacks up on bonus

Container Corporation of India is up and about today. The stock which closed yesterday at Rs.1091.15, opened today at Rs.1145 and is now at Rs.1147.95, up 5.2%. Volumes are huge at over 2300 shares changing hands today compared to just 278 shares over past two weeks average.

The stock zoomed up after the company announced that the board of directors of the company is schedule to meet on July 25, to consider issue of bonus share to the shareholders of the company, which if agreed will be subject to applicable regulatory provisions and approvals required.  On the same day, the company will also declare its Q1 numbers.

The company had declared a bonus earlier in 2008 and that was in the ratio of 1:1.