Atul Auto hits new high after stock split
The company has sub-divided face value of equity shares from Rs 10 each into Rs 5 each.
)
<a href="http://www.shutterstock.com/pic-33415951/stock-photo-bikes-in-a-row.html?src=csl_recent_image-1" target="_blank"> Bikes image </a> via Shutterstock
Shares of Atul Auto is trading higher by 3% at Rs 413 in early morning deals on National Stock Exchange after the stock was quoted ex-stock split from today.
The company engaged in two-three wheeler business had in a filing to the BSE on August 21 said it has fixed September 15, 2014 as record date for the purpose of sub-division of face value of equity shares from Rs 10 each into two share of Rs 5 each. However, the split has taken effect today itself.
Stock split increases liquidity of a stock as more retail investors start buying the share as it becomes affordable.
The stock opened at Rs 410 and touched a record high of Rs 419 on NSE. A combined 31,852 shares have changed hands on the counter in first 10 minutes of trade on NSE and BSE.
The company engaged in two-three wheeler business had in a filing to the BSE on August 21 said it has fixed September 15, 2014 as record date for the purpose of sub-division of face value of equity shares from Rs 10 each into two share of Rs 5 each. However, the split has taken effect today itself.
Stock split increases liquidity of a stock as more retail investors start buying the share as it becomes affordable.
The stock opened at Rs 410 and touched a record high of Rs 419 on NSE. A combined 31,852 shares have changed hands on the counter in first 10 minutes of trade on NSE and BSE.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Sep 12 2014 | 9:35 AM IST