Shares of The Byke Hospitality will turn ex-bonus on Thursday. The company, which is primarily engaged in the business of owning, operating and managing hotels and resorts, is rewarding its shareholders with a 1:1 bonus issue of shares (one share for every one share held). The company’s hotel properties are situated in Goa, Rajasthan, Maharashtra and Himachal Pradesh. Investors buying the shares from Thursday will not be eligible to receive the bonus shares. The stock on Wednesday closed at ₹314.25.

Polaris Financial’s demerger takes effect

The stock of Polaris Financial Technology will remain in focus, as the company has fixed Thursday as the ex-date for the proposed demerger. According to the scheme of arrangement, Polaris Financial Technology will demerge its Products Business Undertaking into a separate entity - Intellect Design Arena. The company has fixed the record date as October 10 for the purpose of determining the list of eligible shareholders to receive shares in Intellect Design Arena. The stock of Polaris Financial closed up at ₹250.5.

BHEL: Order booster from Tamil Nadu

Bharat Heavy Electricals has bagged a ₹7,800-crore contract for setting up a 1,320-MW thermal power project in Tamil Nadu. The Engineering, Procurement and Construction contract from Tamil Nadu Generation and Distribution Corporation is for setting up 2x660 MW coal-fired thermal power project at the Ennore SEZ. The power plant will be constructed on a reclaimed ash pond, calling for specialised civil design, utilising otherwise barren land. The stock will remain in focus following the huge order.

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