Gujarat Mineral Development Corporation Bonus shares delivered

Well! it took time but it happened finally! The bonus shares of GMDC have finally been added to my demat account. These bonus shares are of little solace considering that the price of the stock is down more than 90% of my buy price and I don't see it going back to that price ever again.

If you are an ICICIDirect customer then you won't see these shares added in your portfolio. You need to go to demat allocation page to see them added.

Gujarat Mineral Development Corporation finally fixes record date for bonus!!!

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The wait is over!! GMDC has finally fixed the record date for the 1:1 bonus it declared in Jan 2008. The stock is heavily beaten down already so not sure how much of a help this is going to be! Anyhow the following is the news report on this issue.

Gujarat Mineral Development Corporation Ltd (GMDC) has informed that the shareholders in the adjourned Annual General Meeting held on September 24, 2008 have approved issuance of Bonus shares in the ratio of 1:1 and authorized the Board of Directors to fix a record date to decide the entitlement of Bonus. Accordingly, the Board has decided October 17, 2008, as the record date for the purpose of deciding entitlement of shareholders for Bonus.