Shares of Hindustan Aeronautics (HAL) rose 3 per cent to hit a new high of Rs 3,630 on the BSE in Friday’s intra-day trade after the company said it will consider a stock split. The board of directors of the state-owned defence company will meet on June 27 to mull the proposal of stock split of equity shares of face value of Rs 10 each.
“The meeting of the board of directors of the company is scheduled on Tuesday, the June 27, 2023, to consider, inter-alia, a proposal of sub-division of equity shares of the Company,” HAL said in an exchange filing.
A stock split is a corporate action, in which a company issues additional shares to shareholders,
