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The stock of Transformers and Rectifiers (India) Ltd jumped 11 per cent to Rs 113.65 on the BSE on Monday after the company announced its bonus plans.
The company informed the BSE that a meeting of the board of directors would be held on May 2 to consider issue of bonus shares to public shareholders.
Promoters/promoter group shareholders will forgo their bonus entitlement to comply with the minimum public shareholding requirement under clause 40A of the listing agreement, it said.
Currently, promoters hold 76.82 per cent stake in the company.
All privately-held listed companies have to maintain a minimum public shareholding of 25 per cent by the end of June 30, according to a SEBI directive.
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