Adi Finechem remains 'special'

Adi Finechem continues to remain in news. The stock which had breached the upper circuit yesterday at Rs.252.45, a new high, remains in the green today too, though not a new high. It is currently up almost 4.5% at Rs.220, with an intra day high at Rs.221.25.

Earlier known as HK Finechem, the stock is up after the company declared a 1:10 bonus issue, setting 10^th July as the record date. This means the stock turns ex-bonus from today. The Board meeting is scheduled for 11^th to allot one equity share for every 10 held.  This company, making speciality fine chemicals has always been liberal with bonus and has been rewarding its shareholders with one for the past three consecutive years.