 "Tata Coffee surges on stock split plan")
Tata Coffee has rallied 5% to Rs 973 after the company said its board will consider the sub division of equity shares of the company from face value of Rs 10 to lower denomination.
“The board of directors of the company will be held on November 25, 2014, to consider the proposal of stock split of the company's equity shares,” Tata Coffee said in a statement.
Stock split or sub-division of equity shares is done to infuse liquidity and to make shares affordable for retail investors who could not invest earlier because of the high stock price.
The stock opened at Rs 927 and touched a high of Rs 984 on NSE. The counter has seen nearly 10-fold jump in trading volumes with a combined 813,058 shares changed hands till 1314 hours on NSE and BSE.
“The board of directors of the company will be held on November 25, 2014, to consider the proposal of stock split of the company's equity shares,” Tata Coffee said in a statement.
Stock split or sub-division of equity shares is done to infuse liquidity and to make shares affordable for retail investors who could not invest earlier because of the high stock price.
The stock opened at Rs 927 and touched a high of Rs 984 on NSE. The counter has seen nearly 10-fold jump in trading volumes with a combined 813,058 shares changed hands till 1314 hours on NSE and BSE.