Shares of SC Agrotech Limited surged 5% during Friday’s intraday trading session after the announcement of stock split and bonus issue corporate actions, alongside corporate earnings.
SC Agrotech Limited share price surged 5% during Friday's intraday trading session and hit upper circuit. The agricultural products stock has rallied nearly 62% over the last two weeks, and it hit the upper circuit in six of the last seven trading sessions.
The company has rewarded investors with bonus issue in the ratio of 4:5. Its board of directors recommended the issue of 4 fully paid-up bonus equity shares for every five fully paid up equity shares. Only those investors who will own the stock before the record date will be eligible for the bonus issue corporate action.
SC Agrotech has fixed stock split in the ratio of 1:10, which means that every investor holding single stock (of face value ₹10) will, now own 10 stocks (with face value of Re 1 each), after the execution of stock split.
“The Board approved, subject to shareholders' approval, subdivision of each existing fully paid-up equity share of face value Rs. 10 into 10 (ten) fully paid-up equity shares of face value Re. 1 each. The proposal seeks to improve individual-share accessibility and facilitate wider investor participation,” read the BSE filing released earlier on Friday.