Phoenix Mills gains on stock-split approval

DALAL STREET SPIKES

Phoenix Mills rose 14 per cent to Rs 2,665 before closing the day at Rs 2,451.40, up 5 per cent after its board approved splitting one equity share of Rs 10 each into five equity shares of Rs 2 each.

The company made the announcement after market hours on December 19, 2007. The scrip has outperformed the market in the last one month till December 19, 2007 by adding 23.08 per cent, as against the Sensex's 0.98 per cent decline.