Small-cap stock: Coastal Corporation’s share price jumped as much as 7 per cent in intraday trade on the BSE on Monday, December 23, as the company announced a stock split in a 1:5 ratio.
In an exchange filing on December 23, the company said its board of directors had approved the subdivided of shares with a face value of ₹10 each into five shares of ₹2 each. The company said its stock-split move is aimed at enhancing the liquidation of its equity shares and encouraging the participation of retail investors.
After shareholders ‘ approval, the company will announce the record date for the sub-division of the stock.
More to come…
