The board of directors of Cheviot Company on Tuesday approved issuance of bonus shares in the ratio of one fully-paid up bonus share of face value ₹10 each for every existing two shares held by the shareholders of the company as on the record date. The decision is subject to approval by members at the ensuing annual general meeting, it said. The stock of Cheviot Company closed at ₹1,384.95, down 2.6 per cent, on the BSE.

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