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ZF commercial vehicle has turned ex-bonus today

ICICIdirect Research 24 Jun 2026 DISCLAIMER

News: ZF commercial vehicle has turned ex-bonus today in the ratio of 5:1 i.e. for every 1 share of ZF commercial vehicle held as of yesterday, investors are entitled for 5 new bonus shares. Consequent to this corporate action, the stock price is seen adjusting to ₹ 2,681 today vs. yesterday closing of ₹ 16,086.

View: We see this as a positive development for the stock as it will substantially improve liquidity in the stock amid fundamental levers of outgrowing industry growth. With leadership position in the domestic M&HCV advance braking space, supported by its wide product portfolio, deep OEM relationships, along with long run way of content increase, we remain positive on the stock.

Impact: Positive

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