Shares of Bharat Gears jumped more than 18% as the company’s board announced it would consider issuing a bonus share issue.

Shares of Bharat Gears were trading at Rs 178 at 2.14 pm, up 18.94% from the previous close on the BSE. Shares of Bharat Gears have been rising in recent days. Shares of the company have been up nearly 30% on the BSE in the past five days.

Bharat Gears Finance Committee will meet on August 19, 2022, to discuss the issue of bonus shares to its members through the capitalisation of reserves, the company said in a regulatory filing.

“In terms of the Prevention of Insider Trading Code SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in company shares for promoters, directors, key managerial personnel, nominees and connected persons. Trading of bonus shares from the exchange will remain closed from August 16 till the expiry of 48 hours from the date of receipt of approval by the company,” it said.

The company said that in the April-June 2022 quarter, its net sales stood at Rs 183.97 crore, up 11.71% from Rs 164.68 crore in the same period last year.

Consolidated net profit for the April-June quarter fell 32.7% to Rs 4.3 crore.