Shares of Hikal, a chemicals and pharmaceuticals maker, soared over 7 per cent today after the company said that its board will meet next week to consider sub-division of equity shares.
Hikal's scrip zoomed 7.02 per cent to end at Rs 752.30 on the BSE. During the day, it had surged 11.35 per cent to Rs 782.80.
On the NSE, it settled 7.18 per cent higher at Rs 752.
In a filing to the BSE, Hikal yesterday said: "A meeting of the Board of Directors of the company will be held on December 17, 2014, inter alia, to discuss on sub division of equity shares."
Stock split increases liquidity of a share as more retail investors get to buy it at lower price.
Meanwhile, the broader market saw weak trading with the BSE benchmark Sensex ending 251.33 points lower at 27,350.68.
