Mercator Lines board clears stock split

The board of directors of Mercator Lines, which met yesterday, has approved a proposal for stock split.

Acording to a release issued to the BSE today, the board approved a proposal to divide shares with a face value of Rs 10 each to 10 shares of Re 1 each.

"The record date for the split will be February 1, 2005," the release added.

The board also approved the appointment of Shalabh Mittal as an additional director.