Bonus, Stock Split Alert: IT services provider jumps 80% in 14 sessions, then announces corp action

Shares of Silver Touch Technologies Ltd. gained as much as 4.1% on Friday, January 16, after announcing a bonus and a stock split for its shareholders.

The board of Silver Touch Technologies Ltd. has approved a bonus issue in the ratio of 1:1, which means that eligible shareholders will receive one bonus share for every one share that they own.

Additionally, the board has approved a stock split in the ratio of 1:5, which means that one share of ₹10 each, will be split into five shares of ₹2 each.

This will be the first instance of the company announcing a bonus and a stock split for its shareholders.

Record date for both the bonus issue and the stock split will be disclosed at a later date.

Shares of Silver Touch Technologies have risen 80% in the last 14 trading sessions. It also secured a mandate from the Indian armed forces during this period.

During this upmove, the market capitalization of the stock has also crossed ₹2,000 crore.

Shares of Silver Touch Technologies are trading 4% higher on Friday, after the announcement, at ₹1,591. The stock is up 140% in the last 12 months.