Alkyl Amines was the focus of all attention in the morning trades, after it briefly hit the 10% UC and also a new high at Rs.3642.30. It currently trades at Rs.3630 levels.
The stock turned ex-split – it is splitting the equity share of face value Rs.5 into Rs.2.
The company has fixed 12th May as the record date.
Upon sub-division of face of value of each share from Rs 5 to Rs 2, all fractions resulting from the sub-division of shares shall be consolidated into whole Equity shares and the same will be disposed off at the market price and the net proceeds (less expenses, if any) will be distributed proportionately, as far as practicable, to the members concerned.
Splitting shares is a way to increase liquidity for the stock for trading.