 "Atul Auto hits new high after stock split")
Shares of Atul Auto is trading higher by 3% at Rs 413 in early morning deals on National Stock Exchange after the stock was quoted ex-stock split from today.
The company engaged in two-three wheeler business had in a filing to the BSE on August 21 said it has fixed September 15, 2014 as record date for the purpose of sub-division of face value of equity shares from Rs 10 each into two share of Rs 5 each. However, the split has taken effect today itself.
Stock split increases liquidity of a stock as more retail investors start buying the share as it becomes affordable.
The stock opened at Rs 410 and touched a record high of Rs 419 on NSE. A combined 31,852 shares have changed hands on the counter in first 10 minutes of trade on NSE and BSE.
The company engaged in two-three wheeler business had in a filing to the BSE on August 21 said it has fixed September 15, 2014 as record date for the purpose of sub-division of face value of equity shares from Rs 10 each into two share of Rs 5 each. However, the split has taken effect today itself.
Stock split increases liquidity of a stock as more retail investors start buying the share as it becomes affordable.
The stock opened at Rs 410 and touched a record high of Rs 419 on NSE. A combined 31,852 shares have changed hands on the counter in first 10 minutes of trade on NSE and BSE.