Sundaram Fin declares 1:1 bonus

Sundaram Finance Ltd informed the BSE that the company’s Board of Directors at its meeting held on October 26, 2012, has recommended the issue of 5,55,51,930 equity shares of Rs 10/- each as bonus shares to the shareholders in the proportion of one equity share for every equity share held by them subject to the approval of the shareholders.

The company said that the bonus issue is in commemoration of the birth centenary of its Founder Chairman Late T S Santhanam.

The share price of the company hit a 52-week high at Rs 917/-, up 10.98 per cent from its previous close.

In its filings with the exchanges, the company reported a net profit of Rs 111.49 crore for the quarter ended September 30, 2012, up 23 per cent on a year-on-year basis.

Disbursements at Rs 2,454 crore during the quarter were up 8 per cent, from Rs 2,271 crore on a year-on-year basis.