IEX Share Rise Up To 15 Percent Before Bonus Share Issue

New Delhi: Stocks of Indian Energy Exchange (IEX), on Friday became one of the top companies to take advantage of the recent bull run of the stock market as it shares jumped up to 15 per cent on Friday.

As soon as the market opened yesterday, investors bought the shares of IEX. The reason for this was the nearing date of the Record of the Bonus Share Issue.

In the last month, the company's board had approved the issue of two bonus shares per one share to the investors. The record date for this bonus share issue is December 6. Since the market will be closed on Saturday and Sunday, so Friday was the last trading day before the record date of the bonus share issue. Following this, the investors bought the stock of IEX fiercely.

However, investors who bought the shares on Friday were not going to get the benefit of the bonus share issue. These shares will not be credited to their dematerialized accounts till Tuesday, while the record date is Monday. Probably due to this the company's shares fell a bit soft in the day's trading.

When the market closed on Friday, the shares of IEX stood at Rs 255.65 on the BSE, which was Rs 12.65 or 5.21 per cent up from the previous level. Around 11 o'clock in the day, this stock was trading around Rs 264 with a gain of about nine per cent. In intraday trade on BSE, it had once gained 14.69 per cent to reach a level of Rs 278.70.

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