Gravita India has surged 10% to Rs 198.25, its lifetime high on the Bombay Stock Exchange, after face value of the stock was split to Rs 2 each from Rs 10 each effective from today.
“The company has fixed May 28, 2012 as the record date for the purpose of sub-division of 1 share of Rs 10 per share of the company into 5 shares of Rs 2/- each,” Gravita India said in a filing.
Meanwhile, the board of directors of the company is scheduled to meet today to consider the annual audited financial results of the company for the year ended March 31, 2012 and consideration of recommendation of final dividend, if any.
As many as a combined 964,766 shares have changed hands on the counter till early noon deals, against an average 200,000 shares that were traded daily in past two weeks before stock split.
