Munjal Auto is trading higher by 3% at Rs 176 after the company said its board will meet to consider the sub-division of equity shares of the company.
“The board of directors of the company will be held on September 24, 2011, to consider and recommend for approval to its members for carrying out an alteration in the capital clause of memorandum of association of the company consequent upon increase in the authorised share capital of the company and sub-division of its authorised capital," the Munjal Auto said in a filing to the stock exchanges.
The stock opened at Rs 175 and hit a high of Rs 177 on the BSE. A combined 4,647 shares have changed hands on the counter till 0954 hours.