Greenlam Industries surges 7% on stock split, Rs 950-crore capex plan

The company aims to invest Rs 950 crore over a period of 2-3 years, towards setting up of third laminate plant and foray into plywood and particle board business

Shares Greenlam Industries hit a new high of Rs 1,799.45, up 7 per cent on the BSE in Tuesday's intra-day trade, after its board approved the sub-division/split of face value of equity shares of the company having face value of Rs 5 each to Re 1 each. The company also announced entry into plywood and particle board business and to set up its third laminate plant.

In the past one week, the stock has surged 22 per cent, as compared to a 2-per cent rise in the S&P BSE Sensex. Further, in the past one year, it has more-than-doubled