 "R S Software surges on stock split plan")
R S Software has surged 9% to Rs 693, bouncing back nearly 15% from intra-day low on NSE, 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 board of directors of the company will be held on November 07, 2014, to consider and approve the sub division of face value of equity shares and matters thereof,” R S Software, IT software products company 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.
The stock opened at Rs 635 and hit a low of Rs 603 on NSE. The trading volumes on the counter more than doubled with a combined 1.39 million shares changed hands till 1225 hours on NSE and BSE.
“The board of directors of the company will be held on November 07, 2014, to consider and approve the sub division of face value of equity shares and matters thereof,” R S Software, IT software products company 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.
The stock opened at Rs 635 and hit a low of Rs 603 on NSE. The trading volumes on the counter more than doubled with a combined 1.39 million shares changed hands till 1225 hours on NSE and BSE.
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