Electrosteel Castings Board approves stock split

Electrosteel Castings Ltd has announced that the Board of Directors of the Company at its meeting held on July 23, 2007, inter alia, has given its consent (subject to approval of the Shareholders) to sub-divide the nominal value of each equity share of Rs 10/- each into 10 equity shares of Rs 1/- each. The date on which this sub-division would become effective, will be decided by the Board after obtaining the shareholders’ approval and will be notified at a later date. Ordinary General Meeting for this purpose has been called on August 31, 2007 for the approval of the shareholders.

The stock was trading at Rs.455, up by Rs.28.90 or 6.78%. The stock hit an intraday high of Rs.472 and low of Rs.428. The total traded quantity was 131271 compared to 2 week average of 18367.

Source : Equity Bulls

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