Torrent Pharmaceuticals, one of the top pharmaceutical firms in the country stated in a BSE filing that it had fixed Monday, July 11, 2022, as the record date for the purpose of determining the names of Members who shall be entitled to allotment of bonus equity shares in the ratio of 1: 1.
The shares will start trading ex-bonus on July 8, 2022. Shareholders who buy the shares before the ex-date will receive one new fully paid-up equity share of ₹ 5 each for every fully paid-up share of ₹ 5 that they hold as of the record date.
It is a large-cap company with a market valuation of ₹49,252 crores. The shares are currently trading at ₹ 2,909.65 apiece, down ₹7.30 or 0.25% from the previous close. The stock has corrected 11.79% since it reached its 52-week high.
The company had declared a final dividend of ₹ 23 (460% per equity share of ₹5 each), including the special dividend of ₹15 per equity share, almost a month ago. It has announced the issue of bonus shares in order to commemorate the completion of 50 years of its incorporation this year. It was incorporated on July 15, 1972.
Torrent Pharmaceuticals is the flagship company of the Torrent Group. It is engaged in the research, development, manufacturing and marketing of generic pharmaceutical formulations. Further, it has a presence in power and city gas distribution businesses.
Written By – Simran Bafna
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
