 "ICICI Bank hits new high after stock turns ex-split today")
Shares of ICICI Bank has touched fresh record high of Rs 366, up nearly 2% on BSE after the stock turned ex-stock split today.
The stock opened at Rs 363 and has seen a combined around one shares changed hands till 0917 hours on NSE and BSE.
The private sector lender had subdivided the face value of its equity shares to Rs 2 from Rs 10.
ICICI Bank has fixed record date as December 05, 2014 for the purpose of ascertaining the eligible shareholders who would be entitled to receive five equity shares of nominal value of Rs 2 each in lieu of one equity share of nominal value of Rs 10 each of the bank on account of reduction in face value (sub-division of equity shares).
Stock split increases liquidity of a share as more retail investors buy the share due to its reduced price per share.
The stock opened at Rs 363 and has seen a combined around one shares changed hands till 0917 hours on NSE and BSE.
The private sector lender had subdivided the face value of its equity shares to Rs 2 from Rs 10.
ICICI Bank has fixed record date as December 05, 2014 for the purpose of ascertaining the eligible shareholders who would be entitled to receive five equity shares of nominal value of Rs 2 each in lieu of one equity share of nominal value of Rs 10 each of the bank on account of reduction in face value (sub-division of equity shares).
Stock split increases liquidity of a share as more retail investors buy the share due to its reduced price per share.
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