Shares of Bharat Rasayan Ltd. gained as much as 12% on Monday, October 20, after the company announced that its board will meet to consider a bonus issue of shares and a stock split along with its September quarter results.

In an exchange filing, the company said that the board will meet on Friday, October 24, to consider these proposals.

The record date for the same is yet to be determined.

This will be the first instance that Bharat Rasayan will be considering a bonus issue and a stock split for its shareholders.

Companies generally carry out a stock split to make it easier for shareholders to buy or sell their shares, as it increases the liquidity in the stock. A stock split divides a company's stock into more shares, lowering the price and increasing the number of shares available

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