Radhakishan Damani portfolio stock VST Industries hits 20% upper circuit
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Shares of ace investor Radhakishan Damani’s portfolio stock, VST Industries, skyrocketed 20% to hit the upper circuit at Rs 486.70 on BSE today, on the record date for the company’s bonus issue. Earlier in July, the company had announced a 10:1 bonus share issue, initially setting August 30 as the record date, which was later revised to September 6. The bonus shares will be issued in a 10:1 ratio, meaning eligible shareholders will receive ten equity shares of Rs 10 each for every one existing equity share of Rs 10 held. This is VST Industries first-ever bonus issue, according to Trendlyne data. The company has declared 24 dividends since May 2001, and in the last year, it has declared final dividends of Rs 150 per share twice.Bonus shares are issued to shareholders listed in the company’s records on the record date. To be eligible, shares must be purchased at least one day before the ex-date, as transactions settle the next day. Investor...