Tide Water Oil was locked in the upper circuit for the second straight day, up 5 per cent at Rs 12,030.80 after the company announced a 1:1 bonus, Rs 200 dividend, and a stock split from Rs 5 to Rs 2
In the past four trading days the stock has rallied 74 per cent after the company said it will consider a stock split and bonus issue in the forthcoming board meeting to be held on June 10
The stock was up 5% at Rs 6,809, extending its previous day's 16% rally, after Standard Greases and Specialities Private, joint promoter, purchased a total 57,837 shares from open market.
The board has approved the pre-dealing application form received from Standard Greases and Specialities, joint promoter in connection with further acquisition of 174,240 equity shares of the company.
