Dixon gains 5% after fixing March 19 as record date for 1:5 stock split

The rationale behind the stock split is to encourage wider participation of small investors and to enhance the liquidity of the equity shares at the stock market, the company said

Shares of Dixon Technologies, on Tuesday, climbed 5 per cent to Rs 19,999.90 on the BSE in intra-day trade after the company fixed March 19, 2021 as the record date for 1:5 stock split i.e. from Rs 10 to Rs 2. The stock of the consumer electronics company hit a record high of Rs 20,440 on February 25, 2021.

Dixon Technologies said the company, through postal ballot, has approved sub-division of equity shares of the company from 1 equity share having face value of Rs 10 each into 5 equity share having face value of Rs 2 each fully