Eicher Motors' 10-for-1 stock split takes effect; shares surge 10%

The company had announced, on May 25, its stock split plan to make the stock more affordable for the small retail investors and increase liquidity

Eicher Motors surged 10 per cent to Rs 2,389 on the BSE on Monday after the stock turned ex-date for stock split in the ratio 1:10. The company has fixed August 25, 2020 as record date for the stock split.

The company announced, on May 25, its stock split plan to make the stock more affordable for the small retail investors and increase liquidity.

On June 12, the company’s board approved the stock split in the ratio of 1:10 i.e. sub-division of equity shares of the company from the existing one (1) equity share of face value of Rs 10