Tide Water Oil is making major waves today. The stock, which had closed yesterday at Rs.5997.45, opened at Rs.7000 and went on to hit a new high at Rs.7196.90, its 20% UC where it remains frozen.
The company yesterday announced that it has scheduled a Board meeting on 10th June, wherein apart from consideration of results and dividend, it is looking at issuing not just bonus shares but also going for stock split.
The last bonus declared by the company was in March 2016 and it was in the ratio of 1:1. It has already split its FV from Rs.10 to Rs.5.