Small-cap stock rises 7% as the company announces stock split in 1:5 ratio; check details | Stock Market News

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.

Coastal Corporation share price trend

Coastal Corporation share price has been subdued this year. As of the previous session’s close, the stock is down over 1 per cent this year so far.

However, the stock has seen healthy traction this month. On a monthly scale, the stock has gained nearly 12 per cent in December after four consecutive months of losses.

The small-cap stock hit a fresh 52-week high of ₹354.90 on January 12 and a 52-week low of ₹208.95 on June 4 this year.

to come…

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