MUMBAI (Commodity Online): Engineering solutions provider, Engineers India Limited (EIL) (BOM:532178) is mulling bonus issue and stock split in its proposed board meet that is scheduled to meet on 23 March, 2010. The Company stocks jumped on the Bombay Stock Exchange (BSE) after the news came in.

Extending gains of the previous trading session, EIL stocks opened strong on the BSE on Thursday, March 18, 2010. The stock price gained close to 3% to Rs.2394 in the morning trades today. The company had made the announcement the fag end of the trading hours on Wednesday, 17 March 2010, when the stock had surged 5.19% to Rs.2330.15.

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The large-cap stock had outperformed the market over the past one quarter, soaring 65.12% as compared to the Sensex's return of 3.53%.

If approved by the board, this will be the second bonus from Engineers India. Earlier, the company had issued a 2:1 bonus on November 1999. Engineers India's net profit surged 61.2% to Rs 111.06 crore on 6.6% fall in net sales to Rs 493.83 crore in Q3 December 2009 over Q3 December 2008.

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