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Eicher Motors shares jump 10% as 10-for-1 stock split comes into effect

Prior to the stock split, the stock traded at more than Rs 20,000 apiece, making it one of the most high-valued stocks in absolute terms

Eicher Motors
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Stock splits is a common corporate action followed by India Inc to reduce the denomination of their stock and improve their market liquidity

Samie modak Mumbai
Eicher Motors surged as much as 10 per cent (intra-day) to Rs 2,389 on Monday after the 10-for-1 sub-division of its shares took effect. 

The stock, however, gave up most gains to end at Rs 2,177, up 0.23 per cent. The company on May 25 had anno­unced the stock split to make the stock more affordable for the small retail investors and increase liquidity. 

Prior to the stock split, the stock traded at more than Rs 20,000 apiece, making it one of the most high-valued stocks in absolute terms. 

Other popular stocks with high denomination in the domestic markets include Page Industries, shares

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First Published: Aug 24 2020 | 10:46 PM IST

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