Cochin Shipyard To Trade Ex- Split on January 10
The split ratio approved by the company is 2:1
Cochin Shipyard Ltd. will trade ex-split from Jan. 10, 2024. The defence public sector undertaking announced its share split back in December 2023.
According to an exchange filling on Dec. 14, 2023, the company fixed Wednesday, Jan. 10, 2024 as the record date to determine the eligibility of shareholders for its 2:1 stock split.
The approved stock split will split one equity share of face value of Rs 10 into two equity shares of face value of Rs 5 each.
The subdivision of shares will increase the company's current outstanding equity share number to 26.31 crore from 13.15 crore . Furthermore, the 2:1 stock split indicates share price reduction to Rs 680.5, according to its previous close of Rs 1,361 as of Jan. 5.
Stock Performance
Shares of the company closed 0.17% lower on Friday at Rs 1,361 apiece compared to the 0.24% rise in the Nifty 50.
Shares of the company have increased 8% in the past month and 20% in the past one year.