New Delhi, Sept. 23 -- Gujarat-headquartered Concord Biotech Limited announced its maiden bonus issue after the board of directors approved the corporate action on Wednesday, September 23. The Jhunjhunwala family-backed biotech company has announced 1:1 bonus issue.

Concord Biotech stock closed nearly 2% higher amid buzz around the corporate action. The company scrip has surged close to 50.8% in six months.

The board of directors considered and approved the issuance of bonus shares in the ratio of 1:1, announced the company in its BSE filing on Wednesday. Every eligible shareholder will receive "bonus equity share of Re 1 each for every one fully paid-up equity share of Re 1 each."

The company's board is yet to finalise the record date...