 "Welspun India trades ex-stock split")
Welspun India is trading higher 4% at Rs 97.50 on the BSE after the stock turned ex-stock split today in the ratio of 1:10.
The Welspun India board had fixed March 22, as the record date for a stock split in the ratio of 1:10, i.e. a share of face value Rs 10 is split into 10 shares of face value Re 1 each.
The board also declared second interim dividend of Re 0.60 per equity share having nominal value of Re 1 (face value post-split of shares) for the financial year 2015-16.
The dividend will be paid to the shareholders on or after March 29, 2016, it added.
The stock hit an intra-day high of Rs 98.20 on the BSE so far. A combined 657,850 shares changed hands till noon deal against an average sub 100,000 shares that were traded daily in past two weeks before stock split. It touched a record high of Rs 101 on March 14, 2016 in intra-day trade.
The Welspun India board had fixed March 22, as the record date for a stock split in the ratio of 1:10, i.e. a share of face value Rs 10 is split into 10 shares of face value Re 1 each.
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The board also declared second interim dividend of Re 0.60 per equity share having nominal value of Re 1 (face value post-split of shares) for the financial year 2015-16.
The dividend will be paid to the shareholders on or after March 29, 2016, it added.
The stock hit an intra-day high of Rs 98.20 on the BSE so far. A combined 657,850 shares changed hands till noon deal against an average sub 100,000 shares that were traded daily in past two weeks before stock split. It touched a record high of Rs 101 on March 14, 2016 in intra-day trade.