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HDFC Bank board plans to consider stock split on May 22; shares fall 1.7%

Stock split is a tool used by corporates to boost liquidity of their shares

BS Reporter 

HDFC Bank
HDFC Bank | Photo: Shutterstock

Private sector lender may soon stock split. The lender on Monday said its board of directors at a meeting on May 22 will consider a proposal for “sub‐division of bank’s shares from one share of face value of Rs 2 each to two shares of face value of Rs 1 each.”

Stock split is a tool used by corporates to boost of their shares. Sub-division of shares doesn’t impact the market capitalization of a company.

Shares of on Monday closed 1.7 per cent lower at Rs 2,328.

First Published: Tue, May 07 2019. 01:49 IST
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