Consumer durable stock Rushil Decor declares 1:10 stock split after 25% rally in one year
Stock split 2024: In a significant move, the board of directors of Rushil Decor Ltd has declared a stock split in a 1:10 ratio. This means that the company shares, currently valued at ₹10 per share, will be subdivided into ten equity shares of face value of Re 1 per share. The decision was made during a discussion on the unaudited Q4 results for 2024.
This strategic move has already shown its positive effect, with Rushil Decor shares experiencing a surge in buying interest in the early morning session. The share price opened on a positive note, reaching an intraday high of ₹334 apiece on NSE, marking a rise of over 6 percent on Monday.The consumer durable company has provided comprehensive information about the stock split decision to the Indian stock market bourses. The company stated, "This is to inform that the Board of Directors of the Company has, at its meeting held on Friday, May 24, 2024 (i.e.
today), inter-alia, considered and approved Sub-division/ split of each equity share of face value of Rs. 10/- (Rupees ten only) each, fully paid-up into 10 (ten) equity shares of face value of Re. 1 /- (Rupee one only) each, fully paid-up by alteration of Capital Clause of the Memorandum of Association of the Company, subject to the approval of the members of the Company to be sought using Postal Ballot.
The Record Date for sub-division/ split of existing equity shares will be intimated in due course. This decision was made in light of the company's growth strategy and to enhance shareholder value."Also Read: Dividend stock: Dev IT declares dividend for third straight year. Share jumps 4%Despite the market's ups and downs, Rushil Decor's share price has demonstrated resilience.
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