Shares of JBM Auto will start trading around ₹275 from Wednesday, as the company has set October 8 as the ex-date for bonus shares and stock split. The company has proposed to reward its shareholders with 1:1 bonus and reduce the face value of the stock from ₹10 to ₹5. The stock on Tuesday closed at ₹1,080. JBM Auto has climbed over 18 times from ₹65 levels since January 1. Those buying the shares from Wednesday will not be eligible to receive bonus or stock-split shares.
Preferential issue to keep Future Lifestyle in focus
Shares of Future Lifestyle Fashions, the fashion apparel, accessories and associated products arm of Kishore Biyani-led Future group, will remain in focus on Wednesday, as the company board is meeting to consider a preferential allotment to one or more persons. The company, in which an investment arm of Wipro Chairman Azim Premji has about 8 per cent stake, did not disclose the amount it plans to raise through the issue that includes equity shares/debentures or convertible securities.
8K Miles to declare Sept quarter results
8K Miles Software Services, which provides cloud-based and mobility/big data solutions primarily in India, will remain in focus on Wednesday, as the company is scheduled to announce its financial performance for the quarter ended September. The stock, which has been witnessing a relentless run at the bourses and hitting the upper circuit for successive days, for the first time hit a lower circuit on Tuesday. It climbed over 600 per cent in the last one year to quote at ₹517.6.