Motherson Sumi Systems, a global automotive supplier, witnessed a sharp rise in share price on Wednesday after it announced that the board of directors of the company have recommended the issue of bonus shares in the ratio of one bonus share against the two existing shares subject to the approval of the shareholders.

Further the company has informed that, the aforesaid item was not part of the agenda of the board meeting.

Shares of the company are trading at Rs 486.65, up Rs 28.45, or 6.21% at the Bombay Stock Exchange (BSE) on Wednesday at 2:34 p.m.

Total volume of shares traded on the bourses today was higher by 1,088.42% to 3,097,722 compared with 22-day average volume of 260,659.