Shares of Infosys is trading higher by nearly 2% at Rs 4,213 in early trade on BSE after the company said it has fixed record date as December 3, 2014 for the purpose of allotment of bonus shares/stock dividend.
On October 10, 2014 the board of directors of Infosys had recommended a bonus issue of one equity share for every equity share held.
“The board approved and recommended the issuance in order to increase the liquidity of its shares and to expand the retail shareholder base”, the company said in a statement.
The stock will turn ex-bonus on December 2, 2014.
The stock opened at Rs 4,200 and touched a high of Rs 4,217 on BSE. A combined around 110,000 shares changed hands on the counter in early morning deals on BSE and NSE.