 "Bharat Electronics hits record high on stock split plan")
Bharat Electronics hit a record high of Rs 1,550, up 2% on BSE in early morning trade after the state-owned company announced stock split plan.
“The board of directors of the company will meet on January 27, 2017 to consider the proposal for sub-division of equity shares of the company of face value of Rs 10 each into lower denomination,” Bharat Electronics said in a BSE filing.
In order to facilitate affordability of the company’s shares for investors at large and to enhance the liquidity of the company’s equity shares in the stock market, the most of companies proposed to bring down the nominal face value of equity shares.
The market price of the company has witnessed significant increase over the last few monhts. In past three months, the stock outperformed the market by surging 24% as compared to 2% decline in the S&P BSE Sensex.
At 09:32 am; the stock was up 2% at Rs 1,540 on BSE. A combined 248,616 shares changed hands on the counter on BSE and NSE so far.
“The board of directors of the company will meet on January 27, 2017 to consider the proposal for sub-division of equity shares of the company of face value of Rs 10 each into lower denomination,” Bharat Electronics said in a BSE filing.
In order to facilitate affordability of the company’s shares for investors at large and to enhance the liquidity of the company’s equity shares in the stock market, the most of companies proposed to bring down the nominal face value of equity shares.
The market price of the company has witnessed significant increase over the last few monhts. In past three months, the stock outperformed the market by surging 24% as compared to 2% decline in the S&P BSE Sensex.
At 09:32 am; the stock was up 2% at Rs 1,540 on BSE. A combined 248,616 shares changed hands on the counter on BSE and NSE so far.
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