Stock Market News: Ok Play India Announces Stock Split- Check Ratio And Other Details Here

Stock Market News: The board of Ok Play India has announced the first-ever stock split. The company said that its board has approved to sub-divide/split the equity shares of the company.
The company’s stocks will split in the ratio of 10 for one. It means that each share having a nominal value of Rs 10 will split into 10 shares of Rs 1 nominal value each. The company has not fixed the record date for the stock split yet. “The Board of Directors of the Company at its board meeting held today has accorded its approval to sub-divide/split the Equity Shares of the Company, Division of every 1 (one) equity share of the nominal/face value of Rs. 10/- (rupees ten only) each into 10 (Ten) equity shares of the nominal/face value of Rs. 1/- (rupees One only) each,” the company said in a BSE filing.

Meanwhile, Ok Play India shares on zoomed 9.97 per cent to hit the day’s higher trading limit or upper circuit at Rs 129.60. Its shares have given multibagger returns to its investors. The stock has rallied more than 300 per cent in one year as against 6.69 per cent jump in Sensex. A sub-division or split is a corporate event announced by the listed companies. It is a way to reward the shareholders by sub-dividing the face value of equity shares. As a result of the sub-division, the total number of equity shares is increased in the portfolio. The market price of the stock, however, is adjusted in the ratio of split.

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