Last chance to buy today: Shares of BN Agrochem Limited will remain in focus during Friday’s trading session ahead of record date for stock split. The Indian agro-enterprise has announced stock split in the ratio 1:10 with record date falling next week.
Shares of BN Agrochem have seen sharp rally over the past few weeks as the stock has hit back-to-back upper circuits over the last six trading sessions. For investors who closely track the stock split corporate action, here are all the details to know.
The board of directors of BN Agrochem has fixed Monday, November 16, as the record date to determine the eligibility of shareholders for the stock split corporate action.
As the Indian stock market follows the T+1 settlement cycle, a trade is settled one working day after the transaction. Hence, Friday, November 13, effectively became the last day for investors to buy BN Agrochem stock and qualify for the corporate action.
The board of directors has approved stock split, ie “subdivision of existing 1 fully paid-up equity share of face value ₹10/- each into 10 fully paid-up equity shares of face value Re 1). This means that shareholders will receive nine additional shares of Re 1 face value each for every existing share held in the company.