Persistent Systems Ltd revealed on Wednesday that its board of directors is set to consider a stock split during its meeting on January 20. The decision will coincide with the earnings announcement for the December quarter.
In an exchange filing, the company stated, “The Board of Directors of Persistent Systems may consider a proposal of alteration in the share capital of the company by sub-division/split of the existing equity shares having face value of Rs 10 each.”
If approved, it will mark the first stock split for the company since its listing. A stock split is seen as a means to increase liquidity and enhance affordability, especially for retail investors.
As of 10:58 AM, the shares were trading at ₹7,700.00.
