Eicher Motors yesterday announced a stock spilt. This will be in the ratio of 10:1 – each existing equity share of FV of Rs.10 to be split into 10 equity shares with Re.1 face value.
The record date is not yet finalized and will be intimated soon and the split is expected to be completed in the 2-3 months from date of shareholders approval.
The objective of the stock split – to facilitate larger shareholder base and aid liquidity.
The stock price rose over 2% to Rs.21,899.55 with more buyers than sellers on the counter. Its currently trading at Rs.21824 levels. Its 52-week high is at Rs.23,427.75.