Hindustan Foods has been the top gainer on the BSE since the morning today; opening over 1.5% higher at Rs.420, going on to hit a new 52-week high at Rs.495.80. Exactly a month ago, it had hit a new low at Rs.328.73.
Tomorrow is the record date and today’s reaction is quite typical on the markets.
Earlier this month, the company announced a stock split in the ratio of 1:5 and tomorrow is the record date for the subdivision.
The company said that the stock split was to encourage wider participation of retail investors by making the equity shares more affordable for them and to enhance the liquidity of equity shares of the company in the stock markets.