Atul Auto is trading higher by over 4% to Rs 484 after the company said it board will consider sub-division of equity shares of the company of face value of Rs 10 each into a lower denomination.
The stock opened at Rs 481 and touched a new high of Rs 500 on BSE. A combined 27,400 shares changed hands on the counter till early noon deals on BSE and NSE.
The board of directors of the company will be held on June 26, 2014, to consider and approve the sub-division of nominal value of equity shares of the company, Atul Auto said in a statement.
Stock split or sub-division of equity shares is done to infuse liquidity and to make shares affordable for various investors who could not buy the shares of that company before due to high prices.
The small-cap company has equity capital of Rs 10.97 crore.
The promoter held 55.07% stake as of March 31, 2014. Individual shareholders held 27.76% holding, followed by bodies corporate (10.06%) and non resident Indians (4.66%). The remaining 2.45% holdings are with the foreign institutional investors (1.5%) and others.
Meanwhile, so far in calendar year 2014, the stock of 2/3-wheeler manufacturer has rallied 67% compared to 19% rise in benchmark S&P BSE Sensex.
The stock opened at Rs 481 and touched a new high of Rs 500 on BSE. A combined 27,400 shares changed hands on the counter till early noon deals on BSE and NSE.
The board of directors of the company will be held on June 26, 2014, to consider and approve the sub-division of nominal value of equity shares of the company, Atul Auto said in a statement.
Stock split or sub-division of equity shares is done to infuse liquidity and to make shares affordable for various investors who could not buy the shares of that company before due to high prices.
The small-cap company has equity capital of Rs 10.97 crore.
The promoter held 55.07% stake as of March 31, 2014. Individual shareholders held 27.76% holding, followed by bodies corporate (10.06%) and non resident Indians (4.66%). The remaining 2.45% holdings are with the foreign institutional investors (1.5%) and others.
Meanwhile, so far in calendar year 2014, the stock of 2/3-wheeler manufacturer has rallied 67% compared to 19% rise in benchmark S&P BSE Sensex.
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