Rallis India surges 2% on record date for stock split

Rallis India has jumped nearly 2% on fixing date for stock-split.

The company has fixed July 18, 2011 as the record date for stock split. The company had opted for stock split in the ratio of 1:10, i.e the face value of each of the equity share was to be sub-divided into 10 equity shares of Re 1 each.

The stock opened at Rs 1,549 and surged to a high of Rs 1,560 - up over 2% from the previous close. The stock is now up 1.7% at Rs 1,554. Around 1,249 shares have been traded so far on the BSE, as against a two-week average of 12,273 shares.

The stock is currently just 2% away from its 5-week high of Rs 1,591. Rallis India has outperformed the Sensex in the last quarter - gaining over 7% as against the 4.5% decline in the BSE benchmark.