Ipca Labs down 6% as stock turns ex-date for 1:1 split

The pharmaceutical company has fixed Tuesday, January 11, 2022, as the 'record date' for the members entitlement of sub-divided shares.

Shares of Ipca Laboratories slipped 6 per cent to Rs 1,029.60 on the BSE in Monday's intra-trade as the stock turned ex-date for 1:1 split. The stock was down 8 per cent from its day's high of Rs 1,124, after it opened at Rs 1,118.85 on the BSE. Each fully paid-up equity share of Rs 2 each of the company has been sub-divided into 2 fully paid-up equity shares of Re 1- each.

At 02:10 pm, the stock recovered partially from its intra-day low and was trading 3 per cent lower at Rs 1,067 on the BSE. In comparison,