Bonus, pref issues may buoy Pincon Spirit

Pincon Spirit, in a post-market-hours disclosure, said its board has recommended a 1:1 bonus issue to existing shareholders out of its free reserves. The board has also approved to create, offer, issue and allot, from time to time and in one or more tranches, up to 24 lakh equity share warrants to LTS Investment Fund Ltd, Republic of Mauritius, (a registered FII) through preferential issue. Shares may react positively to these developments.