With the stock markets swinging on a high note, many Indian groups are providing free shares to shareholders, improving sentiments at these counteracts.

The recent link in the bandwagon is India's second-biggest two-wheeler manufacturer, Bajaj Auto, who expressed its board that it shall meet in the month of July 22 to think upon the bonus matter. The group's equity stroked an all-time inclination of Rs 2,525 on the Bombay Stock Exchange after the declaration, but ripped some gains to conclude up by 1.41 per cent to Rs 2,443.90 in a complete frail market.

In the bonus matter, the company presented free added equity to shareholders in quantity to their investment. For example, if the group declared a 1:1 bonus subject, its shareholders accepted one extra share for every share they grasp.

Till this year so far, 53 groups have provided bonus shares to its shareholders. These entail Renuka Sugars, Crompton Greaves, IVRCL Infrastructures, Castrol, Cadila Healthcare, Wipro, Sterlite Industries, ITC and MMTC.