JTL Industries shares dropped more than 4% in morning trade after the board approved a stock split in the ratio of 1:2.
According to an exchange filing on Thursday, one share with a face value of Rs 2 will be divided into two equity shares with a lower face value of Rs 1 as part of the proposal.
The share split is subject to shareholder approval, which is likely to be received at the extraordinary general meeting on October 26. The filing also stated that the record date for the share split will be informed to the stock exchanges in due course.
As of 9:50 am, JTL Industries shares were trading 4.56% lower at Rs 227.90 on the NSE.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
