Trent surges after announcing stock-split, fund raising plans

Shares of Trent Ltd settled with over 5 per cent gains today after the firm said its Board approved stock-split of equity shares having a face value of Rs 10 per share into equity shares of Re 1 each.
The scrip gained 5.38 per cent to end the day at Rs 1768.10 on BSE. Intraday, it touched a high of Rs 1842.20.
At NSE, the stock jumped 5.17 per cent to settle at Rs 1,768.50.
"The Board of Directors of the company at its meeting held on June 28, 2016 have approved the sub-division of equity shares of the company having a face value of Rs 10 per share into equity shares having a face value of Re 1 (one) each," the company said in an announcement.

The sub-division of equity shares is subject to approval of shareholders and statutory approvals, it added.
Further, the Board also approved an enabling resolution for raising of funds by issue of Non-Convertible Debentures (NCDs) on a private placement basis up to an amount not exceeding Rs 300 crore, the company said.