IEX shares surge on bonus issue announcement. Should you buy at current level?

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Indian Energy Exchange (IEX) on Tuesday informed that its board will meet on Thursday, October 21, 2021 to consider the proposal of bonus issue of shares. Shares of IEX surged over 15% in Tuesday’s opening deals to ₹916 per share on the BSE.

“We wish to inform you that the Board of Directors of the Company in their meeting scheduled on Thursday, October 21, 2021, shall inter-alia, also consider the proposal for declaration of Bonus Issue of Equity Shares subject to the approval of the shareholders of the Company,” the exchange informed in a BSE filing today.

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