Centrum Capital surges 10% on stock split, bonus

The board of directors approved a 1:10 stock split, a move by which every share would be sub-divided into ten

Centrum Capital was up 5% on Friday and 10% in the week, following a board meeting on the 15th which approved a bonus issue and stock-split.

The board of directors had approved a 1:10 stock split, a move by which every share would be sub-divided into ten. 

It has also approve an issue of bonus shares in the ratio of 5:1, whereby shareholders will receive five equity shares for every single one they hold.

The board also approved an increase in the authorized share capital of the company, as well as altering its memorandum and articles of association.

“The Board has also decided to convene an Extra Ordinary General Meeting (EOGM) of the members of the Company on June 13, 2013 at 11.00 a.m. for members to approve the above and has approved the Notice to be issued for the same,” said the exchange notification made on the 15th.

It had a net profit of Rs 2.22 crore for the quarter ended March 2013, according to its unaudited results.

It had a net profit of Rs 0.24 crore in the same quarter in the previous year. It had a net profit of Rs 7.54 crore in the nine month period ending March 2013, compared to a net loss of Rs 20.2 crore in the same period last year.     

The stock closed at Rs 1102.5 on the BSE.