Bharat Gears Limited had earlier informed that its Board of Directors is going to consider and approve the Bonus Shares in its Finance Committee meeting to be held on 19th August 2022. However, the Company informed BSE on 19th August 2022 that the meeting has been rescheduled to Wednesday, 24th. August 2022.
“We hereby notify that the meeting of the Board or Directors of the Company is scheduled to be held on 24th August, 2022; consider the issue of bonus share Members of the company through capitalization of reserves,” the auto component manufacturer had announced in an exchange filing. Bonus shares are fully paid-up additional shares issued by a company to its existing shareholders.
“Further, with reference to the Code for Prevention of Insider Trading read with the SEBI (Prohibition of Insider Trading) Regulations, 2015, “Trading Window” for transactions in shares of a Company- Promoters/Promoter Group/Directors/Key Company The Managerial Personnel/Nominee/Connected Persons of the Company shall remain closed for a period ending 48 (Forty Eight) hours after the date of receipt of trading approval for the said Bonus Shares from the respective Stock Exchanges with effect from Tuesday, the 16th August, 2022 (both days inclusive) ,” the company had added.
Bharat Gears Limited (BGL) is a leading global supplier of automotive gears and heat treatment furnaces. The company mainly manufactures a wide range of Ring Gears & Pinions, Transmission Gears & Shafts, Differential Gears, Gear Boxes for the automotive industry. Shares of Bharat Gears have gained nearly 52% in a one-year period or so while the auto component maker’s stock has gained over 24% so far in 2022 (YTD).
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