Bharat Electronics hits record high on stock split plan

In past three months, the stock outperformed the market by surging 24% against 2% fall in Sensex.

Bharat Electronics hit a record high of Rs 1,550, up 2% on BSE in early morning trade after the state-owned company announced stock split plan.

“The board of directors of the company will meet on January 27, 2017 to consider the proposal for sub-division of equity shares of the company of face value of Rs 10 each into lower denomination,” Bharat Electronics said in a BSE filing.

In order to facilitate affordability of the company’s shares for investors at large and to enhance the liquidity of the company’s equity shares in the stock market, the most of companies