Themis Medicare, Gujarat Themis Biosyn shares trade ex-split

Stock split news today: Themis Medicare and Gujarat Themis Biosyn shares declined on Tuesday as both the stocks traded ex-split. Themis Medicare (THEMISMED) shares weakened by as much as Rs 2.7, or 1.5 per cent, to Rs 181.5 apiece while the Gujarat Themis Biosyn stock dropped by Re 1.6, or 0.7 per cent, to Rs 208 apiece in early deals on BSE.

Gujarat Themis Biosyn stock split news, Themis Medicare stock split

As part of their separate arrangements to split stocks, each equity share of the face value of Rs 10 of Themis Medicare is split into 10 equity shares of the face value of Re 1 each, i.e. the stock split ratio of 10:1 (known in market parlance as '10 for one'), and each equity share of the face value of Re 5 of Gujarat Themis Biosyn is subdivided into five equity shares of the face value of Re 1 each, translating into the split ratio of 5:1.

In simpler words, each Themis Medicare share held by a shareholder is subdivided into 10 equity shares, and each Themis Medicare share Gujarat Themis Biosyn share subdivided into five shares.

Are Gujarat Themis Biosyn and Themis Medicare related?

Incorporated in 1981, Gujarat Themis Biosyn commenced production in August 1985. It was taken over in June 1991 by Yuhan Group, South Korea and Pharmaceutical Business Group (India) Ltd. (PBG); a unique consortium of five competing drug companies - Themis Medicare Ltd., Kopran Ltd., Anant & Co, Cadila Health Care and Lyka Labs.

Gujarat Themis Biosyn has been actively managed by Themis Medicare since 2007.

What is a share split?

A sub-division or split of shares is a kind of corporate action that enables a listed company to bifurcate the face value of each equity share in order to increase the total number of equity shares on the bourses.

Why does a stock decline when split?

In most cases, a stock declines on the ex-split date, which is the date when the market price of a security is adjusted. This adjustment happens by subtracting the amount paid to the shareholders eligible to receive the split shares, hence the current market price declines in most cases.

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