 "HDFC Bank board plans to consider stock split on May 22; shares fall 1.7%")
Private sector lender HDFC Bank may soon stock split. The lender on Monday said its board of directors at a meeting on May 22 will consider a proposal for “sub‐division of bank’s equity shares from one equity share of face value of Rs 2 each to two equity shares of face value of Rs 1 each.”
Stock split is a tool used by corporates to boost liquidity of their shares. Sub-division of shares doesn’t impact the market capitalization of a company.
Shares of HDFC Bank on Monday closed 1.7 per cent lower at Rs 2,328.
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