10:1 Stock Split: Suratwwala Business Group is a company that operates in the residential, commercial projects industry. The company’s stock closed in the green around Rs 976.15, up by 1.69 per cent. The stock opened at Rs 951.45 apiece on April 16 and witnessed an intraday high of Rs 1,014.95 apiece. The company has announced a stock split from Rs. 10/- to Re 1 per share.
“...purpose of Sub-Division/Split of existing Equity Shares of the Company, such that existing 1 (One) Equity Share having a face value of Rs. 10 (Ten) each into 10 (Ten) Equity Shares of Rs. 1 (One) each, fully paid up, ranking pari passu in all respects,” the company said via a regulatory filing.
“...of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and all other applicable provisions, if any, we wish to inform that the Board of directors of Suratwwala Business Group Limited at its meeting held on Friday March 29,2024 has fixed ,Thursday, April 18, 2024 as the ‘Record Date’ for determining the entitlement of Equity Shareholders for the purpose of Sub-Division/Split of existing Equity Shares,” the company said in a filing.
When a company declares a stock split, the number of shares of that company increases, but the market capitalisation of the company remains the same. Existing shares split, but the underlying value remains the same. As the number of shares increases, price per share goes down.
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(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
2024-04-17T16:54:38Z dg43tfdfdgfd