JMT Auto at another new high on bonus

The stock since 4^th June has been consistently hitting new highs and today too, the stock hit a new high at Rs.405.80 the moment it opened for trading. This was also the 5% upper circuit.

The company announced today morning, before market opening that it’s Board had approved a bonus issues in the ratio of 5:2 – five bonus shares for every two shares held, which is a very generous offer. The company did end FY14 on a high note  - its net profit for the year came in at Rs.7 crore, down 42% though reserves stood very healthy at Rs.135 crore on an equity of Rs.14.39 crore.