Shares of MK Exim (India) Limited hit a 20% upper circuit on 8 January after the company announced that the board had set a record date for the issuance of bonus shares in the ratio of 1:2.

In its regulatory filing, the company announced that its board of directors had set 17 January as the record date for bonus issues at a ratio of 1:2.

The bonus issue in the ratio 1:2 indicates that the company will issue one bonus equity share of Rs 10 each for every two equity shares of Rs 10 each of the company held. On 4 January, the company received approval from its shareholders for the bonus issue through a postal ballot.

Following the announcement, the shares witnessed a significant surge, and the shares hit a 20% upper circuit, hitting a new 52-week high of Rs 149.50 on NSE.

As of 31 September, the promoters of the company hold a 41.97% stake in the company, whereas the retail investors hold a 57.99% stake in the company.

At 3:30 pm, the shares of MK Exim closed 15.77% higher at Rs 144.25 on NSE.