Havells India has surged 8% to Rs 1,192 ahead of board meeting on Monday to consider sub-division of equity shares of face value of Rs 5 a share to a lower denomination.
The stock opened at Rs 1,115 and touched a low of Rs 1,113 on BSE. A combined 340,000 shares changed hands on the counter so far on BSE and NSE.
The board of directors of the company will meet on June 30, 2014, to consider and approve the sub-division of the nominal value of equity shares of the company, Havells India 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 stock has been more than double from its 52-week low of Rs 586 touched on August 28, 2013. It hit a 52-week high of Rs 1,242 in last week.
The stock opened at Rs 1,115 and touched a low of Rs 1,113 on BSE. A combined 340,000 shares changed hands on the counter so far on BSE and NSE.
The board of directors of the company will meet on June 30, 2014, to consider and approve the sub-division of the nominal value of equity shares of the company, Havells India 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 stock has been more than double from its 52-week low of Rs 586 touched on August 28, 2013. It hit a 52-week high of Rs 1,242 in last week.
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