Maestros Electronics & Telecommunications Systems shares experienced a dramatic surge on Tuesday, gaining 19.90% to close at ₹243. According to reports from ET Now, the sharp rally came ahead of the company's 1:1 bonus share issue, for which the company has now fixed Thursday, October 1, 2026 as the record date. The stock opened at ₹206.90 and touched an intraday high of ₹243.35, which was also its 52-week high in the data shown. The stock's previous close stood at ₹202.80, while the day's low was ₹203. As per The Economic Times, today marks the last day for investors to purchase shares to be eligible for the bonus issue, as the shares will turn ex-record date on Thursday. Due to SEBI's T+1 settlement norm, investors must purchase the company's shares at least one trading day before the record date to ensure they are credited to their demat accounts by that date.
The company had earlier announced that its Board of Directors recommended the issuance of bonus equity shares in a 1:1 ratio. As reported by ET Now, under the proposal, eligible shareholders will receive one new fully paid-up equity share of ₹10 each for every one existing fully paid-up equity share of ₹10 each. The company has now received shareholders' approval for the proposal at its Annual General Meeting held on September 23, 2026. In its exchange filing, the company confirmed that the bonus shares will rank pari-passu in all respects with the existing equity shares. As per The Economic Times, a 1:1 bonus issue means that eligible shareholders will get one bonus share for every single share held in the company as on the record date, with the bonus shares being distributed from the company's reserves.
The strong rally pushed Maestros Electronics shares close to their 52-week high, with the stock's previous close standing at ₹202.80. According to market data reported by ET Now, the sharp move also came after the stock had recorded a more than 25% close-to-close movement over the previous five trading days. The company informed that the bonus shares will be issued in accordance with Regulation 42 of the SEBI Listing Regulations, with a shareholder holding 100 existing shares and eligible as of the record date receiving 100 additional bonus shares subject to applicable terms. As noted by The Economic Times, a bonus issue is often seen as a sign of strong financial health and growth prospects, though it increases the total number of outstanding shares without changing the company's market capitalisation.
