BUSINESS

Mahindra Lifespace Zooms 19% to Consider Bonus Issue

Mahindra Lifespace Developers shares had zoomed 19 per cent to Rs 793.10 on the BSE in intra-day trade on Friday after the company announced that its board would consider maiden bonus issue in their forthcoming meeting on Wednesday, July 28, 2021.

The share price of the real estate and infrastructure development company of Mahindra Group hit a 52-week high. The scrip has rallied 33 per cent in the past month against a rise of 1 per cent in the S&P BSE Sensex during the same period.

On July 1, 2021, the company intimated that a board of directors meeting is scheduled for Wednesday, 28th July 2021. To consider inter-alia, unaudited standalone and consolidated financial results for the first quarter ended on 30th June 2021 (Q1FY22).

The company board of directors, at its meeting scheduled on Wednesday, July 28, shall, inter-alia, will also consider the proposal for issuance of bonus equity shares, subject to requisite approvals; the company informed exchanges on Thursday, July 22, aftermarket hours.

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