Borosil Glass Works has received approval from the board of directors to issue bonus shares.

The company’s board of directors at its meeting held on June 18 has given approval to the issuance of bonus shares in the ratio of 3:1, subject to approval of shareholders’ and other authorities.

The board has also given approval to withdraw the scheme of amalgamation of Hopewell Tableware, Fennel Investment and Finance and Vyline Glass Works with Borosil Glass Works presently pending for approval from the National Company Law Tribunal (NCLT).

However, it has given approval to the composite scheme of amalgamation and arrangement for amalgamtion of Vyline Glass Works, Fennel Investment and Finance Private and Gujarat Borosil with company.

Read EquityPandit’s Technical Analysis of Indian Stock Market