Rural Electrification to turn ex-bonus

Shares of Rural Electrification Corporation will remain in focus on Tuesday ahead of its bonus issue. The company had announced an issue of bonus shares in the ratio of 1:1. The public sector major has set the record date at September 29 to identify shareholders eligible to receive the bonus shares. That means, those who wish to receive these shares will have to buy REC shares by Tuesday. Currently, promoters hold 60.64 per cent stake in RECL with the balance being held by the public, of which 4.97 per cent rests in retail shareholders’ hands.