Mazagon Dock Shipbuilders shares rise 1.7% as co fixes record date for 1:2 stock split

Mazagon Dock Shipbuilders shares rise 1.7% as co fixes record date for 1:2 stock split

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Shares of state-run Mazagon Dock Shipbuilders climbed as much as 1.7% on Tuesday at Rs 4,623.85 on BSE after the company fixed December 27 as the record date for its proposed 1:2 stock split.

“The Company has fixed Friday 27 December, 2024 as the Record Date for the purpose of determining the eligibility of shareholders for sub-division/ split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of face value of Rs. 5/- (Rupees Five Only) each fully paid up,” said the company filing on BSE on December 2.

This is the first-ever instance of the company proceeding with a stock split, according to the data available on Trendlyne.

A 1:2 stock split means that one existing share with a face value of Rs 10 will be split into two new shares with a face value of Rs 5.

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Companies split their stocks to make shares more accessible to small investors, attract a broader range of shareholders, and enhance liquidity in the market.

This strategy aims to boost investor interest and promote a more active trading environment.

Mazagon Dock Shipbuilders has added 125.74% returns in one year and over 40% gains in the last six months.

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