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J&N board okays stocks split plan
Rakesh Kumar Dubey
Calcutta Aug 2: Paint manufacturer Jenson and Nicholson is planning to split its equity shares of the face value of Rs 10 each into the face value of Rs 2 each. Officials said that the board of directors of the company will be meeting next week to consider the proposals.Once it was finalised, the company will convene an extra-ordinary general meeting (EOGM) to get approval of shareholders for the proposal, they said.The move was believed to be aimed at increasing the liquidity of the company's shares which was last traded at the Calcutta Stock Exchange at a market rate of Rs 250 each. Marketmen, however, could not ascertain the motive of the company to go in for stocks split . Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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