The company's stock rose after it announced a 1:10 stock split, meaning each equity share having face value of Rs 10 each will be subdivided into ten equity shares having face value of Rs 1 each
Nandan Denim slipped 16% to Rs 103, also its 52-week low on the BSE, after the textile company posted a sharp 98% year on year decline in its net profit at Rs 7.7 million in Q4FY18.
The stock surged 19% to Rs 151 after the company said it is planning to issue 5 million convertible warrants on preferential basis to foreign investors at Rs 200 each.
