Greenlam shares gain after board approves 5-for-1 stock split

Separately, the company informed that the board of its wholly-owned subsidiary Greenlam South has approved setting up a greenfield project for manufacturing of Particle Board at Nellore

Greenlam Industries rose 1.34% to Rs 1,710 on Monday after the company's board approved a proposal of splitting each equity share of face value of Rs 5 into five equity shares of face value of Re 1 each.

Separately, the company informed that the board of its wholly-owned subsidiary Greenlam South (GSL) has approved setting up a greenfield project for manufacturing of Particle Board and allied products at Naidupeta, Nellore in Andhra Pradesh. The investment required for this project is Rs 600 crore and the plant would be operational by the fourth quarter of financial year 2023-24.

It has also approved enhancing