Shares of V-Guard Industries zoomed nearly 11 per cent, hitting 52-week high, on the Bombay Stock Exchange (BSE) after the board of directors of the company approved the proposal for splitting of equity shares of the company.
"In the meeting held on June 16, the board of directors of the company has considered and approved the proposal for splitting of equity shares of the company, subject to the approval of the shareholders in respect thereof, in the 20th annual general meeting," V-Guard Industries said in a filing to Bombay Stock Exchange.
Following the announcement, shares of the company gained as much as 10.80 per cent and touched 52-week high in intra-day trade to Rs 1464.80 a piece on Bombay Stock Exchange.
In a similar fashion, stocks of the company advanced 7.63 per cent to Rs 1,421.35 apiece on National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 26,678.51, up 153.05 points, or 0.58 per cent, at 10:45 hours.