TRF Bonus Issue – Stock touches upper circuit

TRF Ltd has informed the market that they have decided on the meeting that was held on June 16, 2009, has approved the issue of Bonus Shares in the ratio of 1:1 (i.e. one share for every one share held by the existing shareholders of the Company), After the announcement the stock hit upper circuit and locked at 5 percent upper limit , the stock closed at 904 .Financials

TRF’s net profit surged 55% to Rs 23.90 crore on 41.1% rise in net sales to Rs 239.53 crore in Q4March 2009 over Q4 March 2008.The current EPS is at 75 or so which puts the PE for the stock at current stock price of 904 at 12.