eClerx Services rallies 4% after Q3 profit surge; bonus issue nod
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Shares price of eClerx rallied 4.08% to Rs 4,602.80 in Thursday’s session, buoyed by a strong quarterly performance and the company’s board approving a 1:1 bonus share issue. For the December quarter, eClerx posted a 40% year-on-year rise in net profit to Rs 192 crore, compared with Rs 137 crore a year ago. In a board meeting held on January 28, the company approved a 1:1 bonus issue, entitling shareholders to receive one additional fully paid equity share for every share held as on the record date. The record date for the bonus issue will be announced later by the board or its committee and remains subject to shareholder approval through a postal ballot. The company plans to issue 4,70,25,359 bonus equity shares of face value Rs 10 each. The bonus shares will be issued from retained earnings (free reserves) based on audited financials for the year ended March 31, 2025. eClerx has retained earnings of Rs 13,777.22 crore, of which Rs 47.03...