This Rekha Jhunjhunwala-owned share nears Rs 1 trn mcap; plans stock split

Shares of Canara Bank hit multi-year high at Rs 550.50, as they rallied 6 per cent after the lender said its board will meet on February 26 to consider stock split.

Shares of Canara Bank hit a multi-year high of Rs 550.50, as they rallied 6 per cent on the BSE in Wednesday’s intra-day trade after the lender announced its board will meet on February 26, 2024 to consider and approve sub-division/split of the equity shares of the Bank. Currently, the face value of Canara Bank stands at Rs 10 per share.

Rekha Jhunjhunwala, wife of ace investor Rakesh Jhujhunwala, owns 37.6 million equity shares or 2.07 per cent stake in Canara Bank. Currently, her stake is valued over Rs 2,000 crore.          

Companies split their shares in lower denomination