Sudarshan Chemical hits new high as board approves stock split, bonus shares

The stock zoom 48% to Rs 1,240 from Rs 840 on August 1, after the company announced its board will consider stock split and bonus issue proposal.

Sudarshan Chemical Industries has soared 9% to Rs 1,240, also its new high on NSE, after its board approved the sub-division of the face value of the equity shares from Rs 10 per share to Rs 2 per share.

The board also approved the issue of bonus shares in the ratio of 1:1, post-split/sub-division, held by the shareholders on the record date to be decided by the board, Sudarshan Chemical said in a statement.

Meanwhile, the stock has zoomed 48% from Rs 840 on August 1, after the company said that its board will consider stock split and bonus issue proposal. The benchmark CNX Nifty remains flat at 7,613 during the period.