 "JK Tyre gains on stock split plan")
JK Tyre and Industries is trading 4% higher at Rs 519 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 502 and touched a new high of Rs 535 on NSE. A combined 3.13 million shares changed hands on the counter so far on BSE and NSE.
The board of directors of the company will be held on September 25, 2014, for considering sub-division (split) of face value of Rs 10 of the equity shares of the company, JK Tyre said in a statement.
Stock split or sub-division of equity shares is done to infuse liquidity and to make shares affordable for retail investors who could not invest earlier because of the high stock price.
Meanwhile, the stock has zoomed almost 200% from Rs 175 as on December 31, 2013 compared to 28% rise in the benchmark CNX Nifty.
The stock opened at Rs 502 and touched a new high of Rs 535 on NSE. A combined 3.13 million shares changed hands on the counter so far on BSE and NSE.
The board of directors of the company will be held on September 25, 2014, for considering sub-division (split) of face value of Rs 10 of the equity shares of the company, JK Tyre said in a statement.
Stock split or sub-division of equity shares is done to infuse liquidity and to make shares affordable for retail investors who could not invest earlier because of the high stock price.
Meanwhile, the stock has zoomed almost 200% from Rs 175 as on December 31, 2013 compared to 28% rise in the benchmark CNX Nifty.
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