This pharma company to consider stock split soon - Check details
If approved by the board, this would be the first-ever stock split by the BSE-listed company since its listing more than a year ago.
Specialty chemicals Sudarshan Pharma Industries has informed exchanges that its board will meet soon to consider a proposal for the sub-division (stock split) of the face value of equities.
According to an exchange filing, the company's board will meet on September 30.
"The proposal for sub-division / split of Equity Shares of the Company presently having a face value of Rs. 10/- each in such manner as the Board may determine," the company said in an exchange filing.
If approved by the board, this would be the first-ever stock split by the BSE-listed company since its listing more than a year ago.
Meanwhile, equity benchmark indices declined in early trade on Wednesday amid profit-taking as investors preferred to stay on the sidelines after a record rally and ahead of the monthly derivatives expiry.
The 30-share BSE Sensex dropped 171 points to 84,743.04 in early trade. The NSE Nifty declined 48.7 points to 25,891.70.
From the 30 Sensex firms, Tech Mahindra, Asian Paints, HCL Technologies, Nestle, Adani Ports, Infosys, Tata Motors and State Bank of India were the biggest laggards.
Power Grid, Mahindra & Mahindra, HDFC Bank and Maruti were among the gainers.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,784.14 crore on Tuesday, according to exchange data.
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