Sterlite Tech gets nod for bonus issue, stock split

Sterlite Technologies today said it has received shareholders' nod for issue of bonus shares and sub-division of shares.

The company will issue bonus shares in the ratio of 1:1, that is one new share for each one share held in the entity, Sterlite Tech said in a filing to the Bombay Stock Exchange.

The members of the company also gave their approval for sub-division of shares of Rs 5 each to into the shares of Rs 2 each.

Shares of Sterlite Tech today closed at Rs 393.50 on BSE, up 0.92 per cent from its previous close.