India Inc is on a bonus share spree. Since the beginning of calendar 2004, as many as 17 companies have announced that they are issuing bonus shares.
Pharma major Sun Pharmaceuticals on Thursday joined the growing club of companies that are rewarding their shareholders through bonus issues. It joins four other pharmaceutical companies that have announced bonus shares in 2004.
Earlier, Unichem Laboratories (in a 1:1 ratio), Wockhardt (1:2), Alembic (2:1) and FDC (1:1) announced bonus share issues.
Sun Pharmaceuticals on Wednesday informed the Bombay Stock Exchange that its board of directors at a meeting on April 21 recommended an issue of bonus shares in the ratio of one share for every one share held.
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