Shilpa Medicare to split shares to Rs.2 face value

Shilpa Medicare Ltd has announced that the Board of Directors of the Company at its meeting held on April 26, 2007, has decided to split the Nominal / Face Value of the Equity Shares of Rs 10/- each into Nominal / Face Value of Rs 2/- each to facilitate more liquidity of shares of the Company in the market.

In this regard the Board authorized Mr. Vishnukanth Bhutada, Managing Director of the Company to do all required acts and formalities for obtaining all necessary approvals / permissions to give effect to the split of shares as-said-above as per the provisions of the Companies Act and other applicable laws.

The stock was trading at Rs.430, up by Rs.9 or 2.14%. The stock hit an intraday high of Rs.430 and low of Rs.415. The total traded quantity was 670 compared to 2 week average of 2225.

Source : Equity Bulls

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