Image Source : COMPANY WEBSITE Hi-Tech Pipes has introduced that it might arrange a producing facility of metal tubes and pipes and flat metal processing in Uttar Pradesh at Rs 510 crore.
Hi-Tech Pipes, a number one metal processing firm, is actively contemplating splitting its present fairness shares. According to an trade submitting by the corporate, the board of the corporate will take up a proposal to separate the corporate’s shares when it meets later this week.
The firm mentioned {that a} assembly of the board is scheduled to happen on January 28 whereby the proposal to separate the shares will likely be considered and accepted.
A inventory cut up is without doubt one of the company actions by firms. The rationale behind the cut up is to reinforce the liquidity available in the market and widen the shareholder base. It additionally makes the shares of the corporate extra inexpensive to small buyers and merchants because the share value is adjusted within the ratio of the cut up. When an organization decides to separate its shares, the face worth can also be adjusted in the identical ratio.
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The present face worth of every share of Hi-Tech Pipes is Rs 10.
“Proposal of Sub-Division/ Split of the equity shares of the company, having a face value of Rs. 10 each, in such a manner as the Board may determine…,” Hi-Tech Pipes mentioned within the submitting on Tuesday.
Hi-Tech Pipes mentioned that its board can even take into account and approve the un-audited monetary outcomes for the October-December quarter of the present monetary yr.
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Meanwhile, shares of the small-cap firm completed decrease by 0.41 at Rs 858 apiece throughout Tuesday’s commerce.
In one other associated growth, Hi-Tech Pipes has introduced that it might arrange a producing facility of metal tubes and pipes and flat metal processing in Uttar Pradesh at Rs 510 crore.
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