The board of Magadh Sugar & Energy on Tuesday recommended bonus shares in the ratio of 4:10, i.e., four bonus equity shares for every 10 existing shares of ₹10 each held by the members as on the record date, which will be communicated later on. The board has also recommended a dividend of ₹2 a share of ₹10 each (pre-bonus issue) for the year ended March 31, 2019. Both these decisions are subject to approval by shareholders. The stock of Magadh Sugar jumped 6 per cent at ₹131.40 on the NSE.
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