Stock Split: Ok Play Shares Rally 10 To Hit Upper Circuit On Sub-division Buzz; Check Ratio. Image Source: CanvaPro
Shares of Ok Play rallied 10 per cent to hit the upper circuit on Monday, November 20 as per the data available on the Bombay Stock Exchange (BSE). At the time of filing this report, the counter quoted at Rs 149.05 apiece on the BSE, up by Rs 13.55 or 10 per cent.
Stock Split Announcement
The company informed the exchanges that its board has approved sub-division of shares in the ratio 10:1. According to Investopedia definition, a stock split is when a company increases the number of its outstanding shares to boost the stock's liquidity. Although the number of shares outstanding increases, there is no change to the company's total market capitalization as the price of each share will split as well.
The company in an exchange filing, said "The Board of Directors of the Company at its board meeting held today has accorded its approval to sub-divide/split the Equity Shares of the Company."
"Division of every 1 (one) equity share of the nominal/face value of Rs. 10/- (rupees ten only) each into 10 (Ten) equity shares of the nominal/face value of Rs. 1/- (rupees One only) each," it added.
Share Price History
As per the BSE Analytics, the stock of the plastic molded toy maker has delivered 202.95 per cent returns on YTD basis, so far. The stock moved northward trajectory by 399.33 per cent in the last 365 days. In the last three years, the scrip has multiplied investors wealth by a whopping 828.66 per cent, as per BSE Analytics.
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