Mazagon Dock Shares Rise Ahead of Stock Split

3 Dec 2024 , 01:11 PM

Mazagon Dock Shipbuilders, a state-run corporation, set December 27 as the record date for its proposed 1:2 stock split, which caused its shares to rise as high as 1.7% on Tuesday at Rs 4,623.85 on the BSE.

“In order to ascertain the eligibility of shareholders for the sub-division or split of the current 1 (one) equity share with a face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (two) equity shares with a face value of Rs. 5/- (Rupees Five Only) each fully paid up, the Company has set Friday, December 27, 2024, as the Record Date,” the company stated in a December 2 filing on the BSE.

One existing share with a face value of Rs 10 will be divided into two new shares with a face value of Rs 5 in a 1:2 stock split.

Businesses divide their stock in order to increase market liquidity, draw in a wider spectrum of investors, and make shares more affordable for small investors.

Increasing investor interest and encouraging a more active trading environment are the goals of this technique.

Over 40% gains have been made in the last six months, while Mazagon Dock Shipbuilders has gained 125.74% returns in only one year.

For feedback and suggestions, write to us at [e-mail]