Surya Roshni Ltd., the steel producer, announced on Thursday, November 7, that it will hold a board meeting next Thursday, November 14, to consider a bonus issue of shares.

The board will also consider the company’s September quarter results, along with a dividend proposal, with the bonus issue, during the meeting, the exchange filing said.

This will be the first-ever bonus issue that the company will announce for its shareholders.

Last year, Surya Roshni carried out a stock split, where it announced that it would split one share of face value of ₹10 into two shares of ₹5 each.

The record date for the bonus issue of shares, if any, is yet to be determined.

Surya Roshni shares had surged over 3% on Thursday when the announcement was made by the company on the exchanges. The stock is witnessing some profit booking during Friday’s trading session.

Shares of Surya Roshni Ltd. are currently trading 1.6% lower at ₹685.3. The stock has been an underperformer so far in 2024, currently trading with losses of 14% on a year-to-date basis.