Trent extends gains after fixing record date for stock split

A broker laughs while speaking to a colleague, as they trade on their computer terminals at a stock brokerage firm in Mumbai
Trent has moved higher for the ninth straight trading session up nearly 4% at Rs 2,274 on the BSE, after the company fixed September 14, 2016 as the record date for the stock split in ratio of 10:1.

The stock is currently trading at its new high and rallied 18% from Rs 1,922 since August 22, as compared to 1.8% rise in the S&P BSE Sensex.

The board of directors of Tata Group Company at its meeting held on June 28, 2016 had approved the sub-division of equity shares of the company having a face value of Rs 10 per share into equity shares having a face value of Re 1 each.

Since then, the stock outperformed the market by surging 36% from Rs 1,678, against 8% rise in the benchmark index.

 
The rationale for the stock split is to improve liquidity of the shares in the market and make the shares more affordable to small investors.

At 11:50 am, the stock was up 2.5% at Rs 2,250 on the BSE, with a combined 23,000 shares changed hands on the BSE and NSE.

 

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