Relaxo Footwears, one of the leading footwear companies, witnessed a sharp rise in share price on Monday after the company's board of directors approved issue of bonus shares and dividend.

The board has recommended issue of bonus shares in the ratio of 1:1, that is one share for every share held, subject to approval of the shareholders of the company.

The board also recommended a dividend at the rate of Rs 1 a share of face value of Rs 1 each aggregating of Rs 72.22 million, including corporate dividend distribution tax of Rs 122.16 million, for the year ended Mar. 31, 2015.

Shares of Relaxo Footwears are trading at Rs 798, up Rs 89.75, or 12.67% at the Bombay Stock Exchange (BSE) on Monday at 11:53 a.m.

Total volume of shares traded on the bourses today was higher by 74.52 times to 123,117 compared with 22-day average volume of 1,652.