Finolex Industries turns ex-date for 1:5 stock split, hits 52-week high

In the past one month, stock has rallied 12 per cent as compared to a 5 per cent decline in the S&P BSE Sensex.

Shares of Finolex Industries rose 4 per cent to hit a 52-week high of Rs 145 on the BSE in intra-day trade on Thursday after they turned ex-date for stock split in the ratio of 1:5. The company has fixed Friday, April 16 as the record date for the sub-division (split) of one equity share of the face value of Rs 10 into five equity shares of the face value of Rs 2 each.

Finolex Industries, engaged in the plastic products business, said the rationale behind the stock split is to improve the liquidity of the company's shares in the stock