The board of Poly Medicure on Monday recommended issue of bonus shares in the ratio of 1:1 on the existing paid-up equity share capital of the company. The decision is subject to shareholders’ approval. If approved, this would be the third time the company is rewarding its shareholders with bonus shares; in 2010 and 2013 it had declared 1:1 bonus issues. The stock of Poly Medicure slumped 7.16 per cent at ₹476.40 on the NSE.

Steel Strips Wheels on Monday said it will start mass production at its newly-launched hot steel rolling mill at Saraikela, Jharkhand. Production started on February 1 and has been booked for complete capacity utilisation. The factory having annual capacity of rolling 50,000 tonnes has entered into a strategic tie-up to roll up to 18,000 tonnes of steel bars/flats with a company operating in the same region. The partnership is for 1,500 tonnes every month for an initial period of three years. The rolling mill has been set up at an approximate cost of ₹60 crore. Shares of Steel Strips gained 0.15 per cent at ₹693.3 on the NSE.

JK Cement has informed the exchanges that its Board of Directors has considered and approved raising debt through non-convertible debentures worth ₹50 crore on private placement basis from banks as well as LIC of India. Shares of JK Cement gained 6.2 per cent at ₹801.25 on the NSE, while they closed at ₹797 on the BSE, up 5.6 per cent.

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