Shares of VST Industries Ltd. rose by almost 17% to touch a day’s high of Rs 4840 on 19 July after the company announced plans regarding the consideration of bonus shares at its upcoming board meeting.

The company’s board will consider issuing bonus shares and reviewing June quarter earnings on 25th July. This is the first time the company is planning a bonus issue of shares.

Since 2020, the company has paid dividends of over Rs 100 per share.

Radhakishan Damani is one of the largest shareholders in the company, accumulating almost 34% of the stake. This stake is the second highest in his portfolio after Avenue Supermarts.

As per the current market price of VST Industries, Damani and his entities are holding stakes amounting to a total of nearly Rs 2500 crore.

As the company is manufacturing products of cigarettes and tobacco, their stock will be in focus ahead of the Union Budget presentation on 23rd July regarding any announcements pertaining to tax duty on their products.

During the March quarter of the previous fiscal year, the company’s total revenue was Rs 475.98 crore. The company’s PAT for the same period was Rs 88.2 crore.

The stock has jumped by nearly 31% over the last year.

At 12:02 PM, the shares of VST Industries were trading 16.62% higher at Rs 4,811.65 on BSE.