TRF Ltd, a Tata Group company engaged in bulk material handling, has announced a 1:1 bonus issue. The company's board of directors approved the issue at a meeting on June 16, 2009. The board's approval is subject to shareholders' nod at TRF's forthcoming AGM, which is scheduled for July 20, the company informed the Bombay Stock Exchange. The immediate impact of the bonus issue will ' be to increase the com-pany's capital base. The main objective of the offering which, incidentally, is TRF's maiden bonus issue, is to improve the liquidity of the stock. The market usually sees a bonus issue as a favourable act and the market price of the share gets adjusted accordingly.
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